Referring to Table 4.2, Box R should be filled with 
A. $6.00.
B. $30.
C. $12.50.
D. $8.00.
Answer: D
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When each person specializes in producing the good in which he or she has a comparative advantage, each person can gain from trade but total production in the economy is unchanged
a. True b. False Indicate whether the statement is true or false
Shoe leather costs are
A. the costs associated with the confusion of prices as signals. B. the costs of changing prices, such as printing and mailing catalogues. C. the costs of the redistribution of wealth between lenders and borrowers. D. the costs in time and effort incurred by people and firms who are trying to minimize their holdings of cash because of inflation.
Who is the seller in a primary market and who is the seller in a secondary market?
What will be an ideal response?
When the exchange rate is allowed to shift gradually over time, or within an exchange rate band which may also shift over time, this is considered a(n):
A) fixed exchange rate. B) managed float. C) flexible exchange rate. D) none of the above.