If one Mexican peso was worth 0.05 U.S. dollar, then one U.S. dollar would be worth:
a. 20 Mexican pesos.
b. 0.05 Mexican pesos.
c. 0.05 U.S. dollars.
d. 20 U.S. dollars.
e. 1 Mexican peso.
.A
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In long-run equilibrium, a competitive firm produces the level of output at which:
a. marginal cost is at a minimum. b. short-run average total cost and long-run average cost are at a minimum. c. total revenue is at a maximum. d. diseconomies of scale end.
Stagflation is:
A. high inflation despite low economic growth and low unemployment. B. low economic growth, despite low inflation and low unemployment. C. high unemployment, despite low inflation and low economic growth. D. high inflation along with low economic growth and high unemployment.
What is the difference between ordinal and cardinal measurement?
What will be an ideal response?
An increase in investment spending will be multiplied into a larger increase in GDP illustrates the concept of
A. expansionary fiscal policy. B. the multiplier. C. an inflationary boom. D. international trade.