In which of the following pairs of countries is purchasing power parity more likely occur?
a) Thailand and Malaysia
b) China and France
c) The United States and Thailand
d) The United States and China
Ans: a) Thailand and Malaysia
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An increase in both the equilibrium price and quantity can be the result of
A) a decrease in demand. B) an increase in supply. C) a decrease in supply. D) an increase in demand. E) None of the above answers is correct.
If average cost is positive,
A) marginal cost equals average cost. B) marginal cost exceeds average cost. C) marginal cost is less average cost. D) Not enough information is provided.
If a country has positive net capital outflows, then its net exports are
a. positive, and its saving is larger than its domestic investment. b. positive, and its saving is smaller than its domestic investment. c. negative, and its saving is larger than its domestic investment. d. negative, and its saving is smaller than its domestic investment.
An economic activity in which benefits or costs affect third parties is called
A) a public good. B) a third-party good. C) the exclusion principle. D) an externality.