In 2008, 1.00 Swiss franc cost 0.56 British pounds and in 2010, it cost 0.51 British pounds. Therefore, 1 British pound was worth _____ Swiss francs in 2008 and _____ Swiss francs in 2010
a. 1.79; 1.96
b. 1.78; 1.98
c. 1.71; 2.00
d. 1.73; 1.97
a
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In the above figure, the optimal level of pollution cleanup is
A) Q1.
B) Q2.
C) Q3.
D) Q4.
The fewer alternative uses a resource has,
a. the greater the proportion of its earnings that is economic rent b. the smaller the proportion of its earnings that is economic rent c. the more elastic its supply d. the more elastic its demand e. the less elastic its supply
A monopoly firm
a. has a short-run supply curve that slopes upward. b. is a price taker. c. does not have a supply curve. d. is at the mercy of the market-determined price.
Which of the following statements best describes the economist's view of finance and the financial system?
a. The financial system is very important to the functioning of the economy, and the tools of finance are often helpful to us as individuals when we find ourselves making certain decisions. b. The financial system, while interesting, is not very important to the functioning of the economy; however, the tools of finance are often helpful to us as individuals when we find ourselves making certain decisions. c. The financial system is very important to the functioning of the economy; however, the tools of finance are not particularly helpful to us as individuals since we seldom make decisions for which those tools are useful. d. The field of finance is intimately concerned with the financial system and the tools of finance, and financial economists see great importance in them; however, the "mainstream" economist sees little value in studying financial markets or the tools of finance.