Which of the following is NOT a device to reduce transaction costs?
A) shopping centers
B) auto dealers located close together
C) government prohibitions on advertising
D) banks that direct funds from savers to borrowers
C
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Suppose that the 12-month interest rates for the United States and the United Kingdom are 7% and 6% respectively, and E = 2.10 $/£. Given this information, what is the expected exchange rate change over the year?
A) 1% B) 4.2% C) 2.1% D) 2.0%
See the information in Scenario 4.4. Suppose that the price should increase slightly from $10, how will this affect the total expenditure of consumers on the game?
A) Total expenditures will increase. B) Total expenditures will not change. C) Total expenditures will decrease by a larger percentage than the price increase. D) Total expenditures will decrease by a smaller percentage than the price increase. E) either C or D could be true.
In international trade jargon, constant-cost production-possibility curves are associated with ________ specialization, while increasing-cost production-possibility curves are associated with ________ specialization.
A. complete; partial B. no; partial C. partial; complete D. complete; no
A reason for an increase in labor productivity growth is
A) an increase in the population so that firms hire more workers. B) a decrease in the capital stock so that firms must hire more workers. C) an increase in people's human capital. D) an increase in the quantity of labor. E) growth in the supply of labor.