If you eat at a sushi restaurant that charges $20 for its all-you-can-eat sushi special, then the marginal cost of your 10th piece of sushi is
A. zero.
B. $2.
C. $200.
D. $2,000.
Answer: A
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Suppose that the nominal exchange rate between the U.S. dollar and the Canadian dollar is 0.75 U.S. dollars per Canadian dollar. If Canada's rate of inflation is 0 percent and the U.S. rate is 10 percent, then the real exchange rate for the U.S
dollar will A) appreciate by about 9 percent. B) appreciate by 10 percent. C) depreciate by about 9 percent. D) depreciate by 10 percent. E) None of the above.
Consider the following: The relative price of movies this year has
A) increased. B) decreased. C) stayed the same. D) Not enough information has been given to calculate an answer.
The generosity of the U.S.'s foreign aid after World War II was:
A. unprecedented. B. over $12 billion to 16 countries in an effort to help them rebuild. C. not entirely altruistic and had strategic political motives as well. D. All of these statements are true.
To achieve long-run equilibrium in an economy with a recessionary gap, without the use of stabilization policy, the inflation rate must:
A. not change. B. increase. C. decrease. D. either increase or decrease depending on the relative shifts of AD and AS.