If 1 dollar is equal to 5 Swedish kroner, the dollar price of a kroner is
A. $.20.
B. $1.20.
C. $.50.
D. $.05.
A. $.20.
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If the price of a firm's output rises, its
A) marginal product of labor increases. B) value of marginal product decreases. C) demand for labor increases. D) demand for labor decreases.
An airline can profit by offering standby customers an unsold seat at a substantial discount just before takeoff because
A. additional passengers are needed to balance the load. B. the marginal cost of additional passengers is very small. C. additional passengers add little to fixed costs. D. such passengers add more to profits than do those with reserved seats.
On your first day at work, your boss tells you to call the bank and get the bid and the ask for British pounds. Having just returned from studying in London, you know that the exchange rate should be somewhere around 1.25
You call the number and the lady says "579 and 585." What does that mean? A) She didn't understand your question. B) The bid is 0.579 and the ask is 0.585. C) The ask is 0.579 and the bid is 0.585 D) The bid is 1.2579 and the ask is 1.2585.
What are conflict diamonds and what do they illustrate about resource use?
What will be an ideal response?