Suppose that $1 U.S. costs $1.50 Canadian. If in St. Louis a CD costs $10 U.S. and in Montreal it costs $15 Canadian, then ________
A) purchasing power parity holds
B) Canadians will buy CDs in St. Louis
C) Americans will buy CDs in Montreal
D) Virgin Records will have an incentive to build more stores in North America
A
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The slope of a curved line can be approximated by
A) the average of the variable measured along the y-axis divided by the average of the variable measured along the x-axis. B) the inverse of the straight-line method. C) the average of the variable measured along the x-axis divided by the average of the variable measured along the y-axis. D) the slope across an arc from one point on the curve to another point on the curve.
In which of the following examples cited in the text is there the least amount of evidence of the potential for input substitution?
A) Automobile production. B) Pipe organ production. C) French fry production. D) Production of health care services.
Starting in 2008 and continuing into 2012, the Japanese yen kept appreciating against the U.S. dollar, hurting Japanese exports to the U.S
Indicate whether the statement is true or false
A renewable resource:
A. can be replenished naturally over time. B. is used to regenerate an old piece of capital. C. is used when adopting new technology, and replacing old capital. D. cannot be replenished naturally over time.