Many experts believe that the major determinant of exchange rates in the short run is relative
A. price levels.
B. income levels.
C. money supplies.
D. interest rates.
Answer: D
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The above figure shows the marginal social benefit and marginal social cost curves of chocolate in the nation of Kaffenia. What is the marginal social cost of producing the 250th pound of chocolate each day?
A) $625.00 per pound B) $2.50 per pound C) $1.00 per pound D) $0.50 per pound
The opportunity cost of an airplane flight: a. differs across passengers only to the extent that each traveler pays a different airfare
b. is identical for all passengers and equal to the number of hours a particular flight takes. c. differs across passengers to the extent that both airfares paid and the highest valued use of travel time vary. d. is equal to the cost of a bus ticket, the next best form of alternative transportation to flying.
Structural unemployment arises when
a. marginal productivity of labor becomes zero. b. there is a cyclical change in the economy. c. jobs are eliminated by changes in the economy. d. people change their jobs.
About what percentage of U.S. electricity was generated by coal-fired plants in 2012?
A. 10 percent B. 20 percent C. 35 percent D. 60 percent