A Swiss consumer wants to buy an American laptop. The exchange rate is 1USD=0.89CHF (Swiss Francs). The laptop costs $800 . How much would the laptop cost him in Swiss Francs?
a. 1200 Francs
b. 1160Francs
c. 890Francs
d. 712 Francs
d
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If a good has the characteristic of nonrivalness, it means that
a. the good is publicly provided b. it is impossible to prevent others from sharing the benefits of consumption c. the benefits linked to consumption are indivisible d. none of the above
An increase in the real interest rate outside of the United States will cause the dollar to ________ relative to other currencies and ________ net exports and real GDP
A) appreciate; increase B) appreciate; reduce C) depreciate; increase D) depreciate; reduce
World output will be maximized when each country pursues its comparative advantage.
Answer the following statement true (T) or false (F)
Which of the following is most likely to be overconsumed due to unclear or unenforceable property rights?
A. Donuts sitting in the common study area in the dorm. B. Cereal in your dorm room. C. Sandwiches at the school café shop. D. Soda in the vending machines.