Refer to the information provided in Table 33.3 below to answer the question(s) that follow. Table 33.3
Refer to Table 33.3. Trade will flow in both directions between countries only if the price of the euro is between
A. $.44 and $1.00.
B. $1.00 and $2.25.
C. $.40 and $.50.
D. $.60 and $.75.
Answer: A
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Gasoline prices increase by 50 percent and other things remain the same. As a result, there is
A) an increase in the demand for gasoline. B) a decrease in the demand for gasoline. C) no change in the quantity of gasoline demanded. D) a decrease in the quantity of gasoline demanded. E) More information is needed to determine if the demand for gasoline increases or decreases.
What effect does a price hike have on the total revenue of the producers?
What will be an ideal response?
The wage premium for the average college graduate (vs. the average high school graduate) has gone down significantly in recent years
a. True b. False
Macroeconomics is the study of economy-wide phenomena
a. True b. False Indicate whether the statement is true or false