Suppose the U.S. dollar is backed by one-sixth of an ounce of gold and the British pound is backed by one-third of an ounce of gold. The exchange rate between the U.S. dollar and the British pound equals ________ per pound
A) $0.50 B) $1.00 C) $1.50 D) $2.00
D
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According to the partisan theory,
a. politicians are viewed as working only for their own welfare. b. there are two parties with flexible goals. c. moderates and liberals often switch political goals. d. macroeconomic policy is not a key focus of most politicians. e. none of the above.
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 in rented property, and $35,000 in interest costs on capital. The owner/manager does not choose to pay himself, but he could receive income of $90,000 by working elsewhere. The firm earns revenues of $360,000 per year. What are the annual implicit costs for the firm described above?
A. $160,000. B. $360,000. C. $90,000. D. $450,000.
Which of the following was signed in 1987 and banned the exportation and importation of chlorofluorocarbon compounds (CFCs) and halons?
A. The CITES B. The Uruguay Round C. The Kyoto Protocol D. The Montreal Protocol
Refer to the normal-form game of advertising shown below.Firm AFirm B??AdvertiseDo Not Advertise?Advertise$0,$0$175,$10?Do Not Advertise$10,$175$125,$125Suppose there is a 50 percent chance that the advertising game depicted in Figure 10-17 will end next period. The collusive agreement {(not advertise, not advertise)} is:
A. unsustainable since $175 < $25. B. sustainable since $175 < $250. C. sustainable since $20 > $50. D. unsustainable since $350 > $50.