Brazil only exports coffee and its price is $15 . It only imports crackers and its price is $10 . Brazil's terms of trade is
a. 15
b. 150
c. 67
d. 167
e. 100
B
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By the end of the 1960s, fiscal activism was falling out of favor due to its long ________ lag and, as predicted by the permanent-income hypothesis, the ________ of the 1968 tax surcharge
A) legislative, ineffectiveness B) legislative, overstimulation C) effectiveness, ineffectiveness D) effectiveness, overstimulation
In the first few decades of its existence, the AFL
A. was concerned with obtaining bargaining strength in the face of the economic power of the emerging large corporations. B. was primarily concerned with long range goals such as a universal eight-hour day rather than "bread and butter issues" such as higher wages. C. leadership was opposed to use of the strike as a method to achieving its goals. D. did all of these things.
At its current production level, a monopolist's marginal revenue is $20 and its marginal cost is $10. Which of the following is CORRECT?
a. The monopolist should produce and sell more output. b. The monopolist should produce and sell less output. c. The monopolist is maximizing its profits at its current level of output. d. More information is required to decide if the firm needs to change its production.
Which of the following statements is true?
A. A country runs a capital account deficit if it imports more than it exports. B. The overall sum of all the entries in the balance of payments must be positive. C. If the current account is in surplus, the capital account must be in deficit. D. A country runs a current account surplus if it sells more of its assets abroad than it buys abroad.