If the dollar-peso exchange rate is 0.01 dollars per peso, what is the rate of pesos per dollar?
a. 1 peso/dollar
b. 10 pesos/dollar
c. 0.1 peso/dollar
d. 1,000 pesos/dollar
e. 100 pesos/dollar
E
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The Mansfield Public Library has a large number of books that anyone with a library card may borrow. Anyone can obtain a card for free. Because the number of copies of each book is limited, not everyone can have the same book at the same time. What type of good would the library books be classified as in this case?
a. private goods b. club goods c. common resources d. public goods
According to the purchasing power parity theory, a change in relative interest rates between two countries must cause a change in exchange rates.
a. true b. false
If a firm decides to make the investment decision to expand its capacity, then it must have discovered that
A. P = AVC. B. P = ATC. C. P > ATC. D. P > AVC.
In 2015, the population of the world
A. was approximately 500 million people. B. fell below 2 billion people. C. was more than 7 billion people. D. was close to 1 trillion people.