If it takes $1 to buy 100 yen, then the exchange rate ______.
a. is 100 yen per $1 from the U.S. perspective and is $1 per 100 yen from the Japanese perspective
b. is $100 per 1 yen from the Japanese perspective and is $1 per 100 yen from the U.S. perspective
c. is $1 per 100 yen from the U.S. perspective and is 1 yen per $0.01 from the Japanese perspective
d. is $1 per 100 yen from the Japanese perspective and 100 yen per $1 from the U.S. perspective
c. is $1 per 100 yen from the U.S. perspective and is 1 yen per $0.01 from the Japanese perspective
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Suppose that during a given time period the implicit cost for a business was $1,000 and that the explicit cost was $5,000. Also suppose that the firm sold 1,000 units of its products at $5 per item. We can conclude that the firm's
A) accounting profit was $5,000, and its economic profit was $0. B) accounting and economic profits were both $0. C) accounting profit was $0, and economic profit was $1,000. D) accounting profit was $0, and economic profit was -$1,000.
The share of GDP going to federal taxes
a. has been about 16 to 20 percent for the past 40 years. b. has been about 35 percent for the past 40 years. c. was about 40 percent until the early 1980s and has dropped greatly since then. d. has risen steadily in the past 40 years to about 35 percent.
The demand curve
A. Is a graphical representation of the relationship between price and quantity demanded. B. Determines equilibrium price in a market. C. Depicts the relationship between production costs and output. D. Is a graphical representation of the relationship between price and quantity supplied
Refer to the graph shown. An increase in the U.S. price level would shift:
A. D1 left and S1 right, causing a depreciation of the euro. B. D1 right and S1 right, causing a depreciation of the euro. C. D1 left and S1 left, causing an appreciation of the euro. D. D1 right and S1 left, causing an appreciation of the euro.