Suppose that a worker in Country A can make either 25 bananas or 5 tomatoes each year. Country A has 200 workers. Suppose a worker in Country B can make either 18 bananas or 6 tomatoes each year. Country B has 400 workers. For a worker in Country B, the trade-off to making one tomato is:
A. 2 bananas.
B. 3 bananas.
C. 4 bananas.
D. 5 bananas.
B. 3 bananas.
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If the slope of the aggregate expenditure curve is 0.5, then the expenditure multiplier equals
A) 5. B) 0.5. C) 2. D) 3. E) 4.
Which of the following is likely to lead to a right shift in the demand curve for labor in the coffee producing industry?
A) A decrease in the price of tea B) An increase in the demand for tea C) A decrease in the demand for coffee D) An increase in the demand for coffee
The nominal GDP of the U.S. in 2015 was approximately $17.3 trillion. This means that
A) total income in 2015 was around $17.3 trillion. B) total spending in 2015 was around $17.3 trillion. C) the value of output in 2015 was around $17.3 trillion. D) all of the above are true.
International Banking Facilities (or IBFs) were established in 1981
Indicate whether the statement is true or false