If purchasing power parity exists and the exchange rate is 1.50 U.S. dollars per British pound, than a latte that has a price of $4.00 in San Jose, California, has a price of ________ in London, England
A) 2.67 pounds B) 4.00 pounds C) 8.00 pounds D) 0.37 pounds E) 6.00 pounds
A
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When the price of a product is increased 10 percent, the quantity demanded decreases 15 percent. The price elasticity of demand for this product is
A. perfectly elastic. B. elastic. C. inelastic. D. unit elastic.
Which investment bank avoided bankruptcy by being purchased by JP Morgan Chase in March 2008?
A) Morgan Stanley B) Lehman Brothers C) Bear Stearns D) Merrill Lynch
Frictional unemployment is a "necessary" cost of a dynamic economy
a. True b. False Indicate whether the statement is true or false
Contrary to most thinking, governments play ____ in causing pollution.
A. almost no role B. a large but decreasing role C. a major role D. a reconstructive role