According to the accompanying table, Martha has the absolute advantage in making: Time to Make a PieTime to Make a CakeMartha60 minutes80 minutesJulia50 minutes60 minutes
A. cakes.
B. neither pies nor cakes.
C. both pies and cakes.
D. pies.
Answer: B
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How would the following events affect the market demand for laser printers?
a) A recession in the economy leading to a fall in income levels b) A five-fold increase in the price of printing paper What will be an ideal response?
When Maria deposits $100 in currency in her checkable deposit at Bank of America, the immediate effect is that the quantity of M1 ________ because ________
A) changes only if Bank of America has excess reserves; if the bank does not have excess reserves, the overall effect to M1 is too small to notice B) decreases; checkable deposits are included in M2 but are not included in M1 C) does not change; both currency and checkable deposits are included in M1 D) changes, but the direction of the change cannot be determined; the direction of the change depends on what Bank of America does with the deposit E) increases; both currency and checkable deposits are included in M1
According to purchasing power parity, the foreign exchange market will
A) undervalue the dollar if inflation in the United States is greater than it is elsewhere. B) no longer demand dollars if the inflation rate in the United States exceeds that of other nations. C) adjust the value of the exchange rate to reflect differing inflation rates between nations. D) result in a flow of dollars out of the United States whenever its rate of inflation is below that of other nations.
Which of the following statements about capital markets is true?
A) At one time, the U.S. capital market was larger than all other capital markets combined, but that is no longer the case. B) The U.S. capital market is currently larger than all other capital markets combined. C) The largest capital markets in the world today are in East Asia and Latin America. D) There are currently large capital markets in Europe, but none in Asia.