Label the long-run supply curve.
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The branch of economics that examines the self-interested behavior of politicians, lobbyists, agencies, bureaucrats, and voters is called
A) microeconomics. B) macroeconomics. C) econometrics. D) public choice.
When an investment project generates output that is valued more highly than the value of the resources required for its production,
a. undertaking the project will create wealth. b. it will generally be profitable to undertake the project if property rights are securely defined and enforced . c. entrepreneurs seeking profit will have little incentive to undertake such projects. d. both a and b are correct.
Given $1,000.00, the following spot exchange rates, and assuming zero transaction costs, illustrate and explain how you could use triangular arbitrage to profit on the disequilibrium in the foreign exchange market. The price of the euro (€) in terms of U.S. dollars is $1.20. The price of the British pound (£) in U.S. dollars is $1.30, and the cross rate between the € and the £ is 0.89 pounds per euro.
What will be an ideal response?
Other things the same, which of the following could be a consequence of an appreciation of the U.S. real exchange rate?
a. John, a French citizen, decides that Iowa pork is now relatively less expensive and orders more for his restaurant. b. Nick, a U.S. citizen, decides that the trip to Nepal he's been thinking about is now affordable. c. Roberta, a U.S. citizen, decides to import fewer windshield wipers for her auto parts company. d. All of the above are correct.