A weaker U.S. dollar leads to higher input prices for U.S. firms because
A. both imports of raw materials and intermediate goods are higher in prices.
B. U.S. workers are willing to work for less pay because of the weaker U.S. dollar.
C. both exports of raw materials and intermediate goods are higher in prices.
D. U.S. producers of intermediate goods raise prices in order to benefit from the weaker dollar.
Answer: A
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One explanation that economists give for the persistence of poverty in LDCs falls under the category of nonscientific perceptions. An example of this is people in LDCs who
a. are unwilling to devote their energies to intellectual pursuits b. don't share the values associated with the means to acquire or the acquisition of the materialist world commonly identified with Westerners c. are not rational, utility-maximizing, economic agents d. value their children e. because of climate, require a lower calorie diet to survive
Suppose the required reserve ratio is 10%. Mr. Normal uses his ATM card to withdraw $1,000 from this checking account in California National Bank. This action has
A) increased the M1 measure of money supply by $1,000. B) reduced the bank's required reserves by $1,000. C) increased the M2 measure of money supply by $1,000. D) not changed the M1 or M2 measures of money supply.
Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism. B. the brain drain. C. Malthusianism. D. outsourcing.
The Southern Common Market (MERCOSUR) is actually a
A. free-trade area. B. economic union. C. customs union. D. common market.