Refer to the information provided in Table 33.3 below to answer the question(s) that follow. Table 33.3
Refer to Table 33.3. If the exchange rate is $1 = 3 euros, then
A. the United States will import both raspberries and chocolate.
B. the United States will import chocolate and Belgium will import raspberries.
C. the United States will import raspberries and Belgium will import chocolate.
D. Belgium will import both raspberries and chocolate.
Answer: A
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Refer to Figure 15-2. The firm's profit-maximizing price is
A) P1. B) P2. C) P3. D) P4.
Most of the Fed's liabilities are in the form of: a. Federal Reserve notes. b. checkable deposits
c. U.S. Treasury deposits. d. loans to member banks. e. certificates of deposit.
What is typically used for cross country comparisons of GDP?
a. purchasing power parity (PPP) b. exchange rate c. GDP per capita d. GDP
Once the supply curve for a product or service is drawn, it
a. remains stable over time. b. can shift either rightward or leftward. c. is possible to move along the curve, but the curve will not shift. d. tends to become steeper over time.