Which of the following defines a soft peg?
A) An exchange rate determined by the market
B) An exchange rate that fluctuates within a set band
C) An exchange rate that is not allowed to vary
D) An exchange rate that is backed by gold
B
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The opportunity cost of owning a car is
A. the price of the car. B. filling the tank twice a week. C. the cost of getting your car inspected once a year. D. the vacation to Hawaii you had to give up in order to make your car payments.
Which of the following does not contribute to a pro-business climate for investors?
A. Secure property rights. B. Minimal government regulation. C. High tax rates. D. Legalized profit.
The division of labor and specialization explain
A) why the average product of labor falls when firms use more capital or change the layout of their businesses. B) why, when the marginal product of labor increases, so does the average product of labor. C) why the marginal product of labor rises as a firm hires its first units of labor. D) why firms may find it profitable to use more workers when the marginal product of labor is negative.
Per capita real GDP is:
a. equivalent to the real GDP level. b. a measure of the value of output produced and available to an average person. c. higher in developing countries than in developed countries. d. a measure of an economy's income distribution. e. a measure of the GDP per country.