Refer to the information provided in Figure 4.1 below to answer the question(s) that follow.
Figure 4.1Refer to Figure 4.1. At the world price of 30 cents per apple, the United States imports ________ million apples per day.
A. 2
B. 4
C. 6
D. 10
Answer: C
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Voting members of the Federal Open Market Committee are
A) the Board of Governors, the presidents of five Federal Reserve Banks, and the Comptroller of the Currency. B) the Board of Governors and presidents of five Federal Reserve Banks. C) the Board of Governors and all twelve Federal Reserve Bank presidents. D) the Board of Governors, all twelve Federal Reserve Bank presidents, and the Secretary of the Treasury.
This textbook is about microeconomics because it deals mainly with the behavior of variables such as:
A. economic sectors, the business cycle and monetary and fiscal policies. B. national output, interest rates, unemployment and inflation. C.individual economic units, such as consumers, firms, workers and investors D.national and international markets, exchange rates and economic treaties.
The fallacy in the strict crowding-out argument comes from supposing that
A. the Federal Reserve always accommodates the U.S. Treasury in its financing of the deficit. B. corporations always outbid small businesses for government contracts. C. the economy’s flow of saving is fixed. D. investors will spend more when G increases.
Concerning the covering of exchange rate risks, assuming that a depreciation of the domestic currency is feared, one can say that there is an incentive for
A. monetary authorities to rush to cover their future needs. B. importers to rush to cover their future needs. C. both exporters and importers to rush to cover their future needs. D. exporters to rush to cover their future needs.