Other things equal, the level of bilateral trade between two countries will increase as their GDP:
a. rises.
b. falls.
c. stays the same.
d. becomes less equal.
Answer: a. rises.
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Refer to Figure 1-1. Using the information in the figure above, calculate the percentage change in sales of alcoholic beverages between 2012 and 2016
A) 30% B) 50% C) 66.7% D) 100%
The ______________________: is the expenditure required to construct the building today, replicating it in exact detail.
Fill in the blank(s) with the appropriate word(s).
A headline reads "Perfect Weather Brings Record-High Coffee Harvest." This situation would lead to a(n):
A. Increase in the price and in the quantity purchased of coffee B. Decrease in the price and in the quantity purchased of coffee C. Increase in the price and a decrease in the quantity purchased of coffee D. Decrease in the price and an increase in quantity purchased of coffee
Perishable goods such as tomatoes and eggs are never used as money, because they cannot function as a
A. standard of deferred payment. B. medium of exchange. C. store of value. D. unit of accounting.