A good in the United States is worth $2,000 and the same good in Mexico is worth 50,000 pesos. This implies that $1 U.S. is worth _____ pesos
a. 25
b. 30
c. 15
d. 24
a
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Which of the following is not a "pull" factor in urban migration?
a. higher urban incomes b. better urban job opportunities c. more modern way of life d. rural land consolidation e. all are pull factors f. none is a pull factor
The statement that "at 10 percent, the interest rate is too high for families to buy the home they deserve," is a(n)
a. positive statement b. normative statement c. morally ambiguous philosophical position d. affront to the American dream e. value judgment
Which of the following will cause a reduction in output per worker (Y/N)?
A) a reduction in the capital stock (K) B) a reduction in the saving rate C) a reduction in K/N D) all of the above
The price of gasoline rises by 33 percent to $3.50 a gallon and stays at that price for the next two years. The quantity of gasoline demanded two years from now will be
A) the same as one month after the price hike. B) greater than one month after the price hike. C) less than one month after the price hike. D) the same as it would be if the price hike had never occurred.