If in September 2014, €1 = $1.2962, a good costing €45 would have a Dollar price of:
(a) $59.52.
(b) $58.33.
(c) $34.72.
(d) $35.72.
Answer: (b) $58.33.
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A person is dynamically consistent if:
A. lapses in his self-control never occur. B. his preferences over the alternatives available at some future date do not change as the date approaches or once it arrives. C. he always wants to follow through on his plans and intentions. D. All of these are necessary for dynamic consistency.
If the marginal product of the second worker hired by a firm is 14 units and the price of the tenth unit of output is $7, then the marginal revenue product
a. of the second worker is $98, regardless of the structure of the product market b. of the second worker is $98 if the firm is a price searcher in the product market c. of the second worker is $98 if the product market is perfectly competitive d. of the tenth worker is $98 if the product market is perfectly competitive e. of the tenth worker is $98 if the firm is a price searcher in the product market
Construction workers at times face high rates of unemployment because their work is both seasonal and subject to wide swings over the business cycle
a. True b. False Indicate whether the statement is true or false
Net exports measures the:
A.) Total dollar value of U.S. exports. B.) Dollar amount of imports. C.) Quantity of goods produced abroad. D.) Dollar value of exports minus the dollar value of imports.