Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many swords will Morocco gain compared to the "without trade" numbers?
A) 0 B) 15 C) 60 D) 75
B
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The Sandy Deli operates near a college campus. It has been selling 325 sandwiches a day at $1.75 each and is considering a price cut. It estimates 450 sandwiches would sell per day at $1.50 each. Calculate the marginal revenue of such a price cut and the elasticity between the two points.
What will be an ideal response?
The classical economists' contention that prices double when the money supply doubles is predicated on the belief that in the short run velocity is ________ and real GDP is ________
A) constant; constant B) constant; variable C) variable; variable D) variable; constant
Fred Jaher reported to the government interviewer that he worked 40 hours last week as a stocker at a Target department store. He also said that he has a Ph.D. in history and had hoped to be a history professor. With all this information, we know that Fred is
a. a member of the labor force who is underemployed b. a member of the labor force who is structurally unemployed c. a member of the labor force who is frictionally unemployed d. a discouraged worker who is not a member of the labor force e. not a member of the labor force because he is not working at his capacity
In the spring of 2002, Argentina was forced to devalue its peso and disband its currency board that was responsible for the fixed exchange rate between the peso and the U.S. dollar. Explain the origin of this crisis and the painful remedies that Argentina has had to endure