Of the following, when would the U.S. exchange rate rise the most?
A) when the supply of and demand for U.S. dollars increase
B) when the supply of U.S. dollars increases and the demand for them decreases
C) when the supply of U.S. dollars decreases and the demand for them increases
D) when the supply of and demand for U.S. dollars decrease
C
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____ mean that the costs involved cannot be recouped for a considerable period of time
a. Sunk costs b. Opportunity costs c. Overheads d. Restructuring costs
Suppose that Captain Canada can produce 100 hockey sticks or 10 gallons of maple syrup in a typical work week, while Captain Germany can produce 90 hockey sticks or 10 gallons of maple syrup in a typical work week. From these numbers, we can conclude
a. Captain Canada has a comparative advantage in the production of hockey sticks. b. Captain Germany has a comparative advantage in the production of maple syrup. c. Captain Canada has an absolute advantage in the production of hockey sticks. d. All of the above conclusions are correct.
Which of the following statements is true of direct to consumer advertising (DTCA)?
a. There is a positive correlation between a drug's price and the amount of DTCA practiced. b. DTCA increases pharmaceutical profits but does little to improve consumer welfare. c. The majority of pharmaceutical spending on advertising is focused on the patient. d. DTCA attracts more patients to consider using the product who might not have known about the drug. e. Pharmaceutical advertising does little to educate patients. Its sole purpose is to promote product use.
A unique characteristic of taxes on economic rents is that such taxes:
A. stimulate aggregate production. B. do not lead to a reallocation of the resource. C. are paid by consumers. D. are always regressive.