Refer to the graph below. One U.S. dollar will purchase how many euros?
Assume that U.S. and European governments adopt a system of flexible exchange rates, and the figure below shows the market for euros.
A. 0.90 euro
B. 1.00 euro
C. 1.11 euro
D. 1.90 euro
C. 1.11 euro
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When a rent ceiling law is passed in a city, which of the following occurs?
A) The total price of renting an apartment decreases to all renters. B) The quantity of apartments supplied does not change. C) Some landlords and renters use methods such as "key money" to get around the rent ceiling law. D) Renters have no trouble finding a nice, reasonably priced apartment to rent. E) Generally the number of renters in the city increases because people move to the city to take advantage of the low-rent apartments.
Tom and Mary own a perfectly competitive tomato farm. They can hire different numbers of college students to help plant, cultivate, and harvest the tomatoes. The above table gives their marginal product schedule
a) If the price of a pound of tomatoes is $2 a pound, complete the first value of marginal product column in the table. If Tom and Mary must pay their workers $10 an hour, how many workers do they hire? b) If the price of a pound of tomatoes falls to $1 a pound, complete the second value of marginal product column in the table. If Tom and Mary still must pay their workers $10 an hour, how many workers do they hire? c) When the price of a pound of tomatoes falls, what happens to Tom and Mary's demand for labor curve?
Which of the following is an illustration of differentiated oligopoly?
A. The aluminum industry. B. The steel industry. C. The soft drink industry. D. Retail stores in large cities.
Which of the following is one of the main reasons behind the high debt to GDP ratio in Greece?
A. Labor migration B. Tax evasions C. Population explosion D. Capital flight