In 2011, the per-capita GDP in the United States, in 2005 dollars, was about
A) $17,500.
B) $27,500.
C) $43,000.
D) $47,500.
C
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Holding all else constant, an increase in U.S. real GDP will ________ the supply for dollars in the foreign exchange market and ________ the equilibrium Mexican peso/U.S. dollar exchange rate.
A. decrease; increase B. decrease; decrease C. increase; increase D. increase; decrease
All of the following actions were taken by the Thai government to help Thailand maintain its peg against the dollar in the 1990s except
A) imposing restrictions on exports to the United States to prevent too many dollars from entering the economy. B) borrowing dollars from the International Monetary Fund in exchange for baht. C) increasing domestic interest rates to attract more foreign investors. D) buying baht on the foreign exchange market to support higher demand for the baht.
Suppose that vegetarian lobby groups run large advertising campaigns that are successful in substantially lowering the consumption of beef. As a result of the substantially lower desire for beef, we would expect
a. the price of beef to fall. b. the profitability of being a cattle rancher to fall. c. a reduction in the number and size of cattle herds--and thus the number of cows--in the long run. d. all of the above.
Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. If demand for wheat is D2, then a profit-maximizing firm will produce ________ units and earn a profit of ________.
A. 13; $0 B. 13; $91 C. 15; $30 D. 7; $0