The ICP index:
A. uses a broad market basket that tries to represent the full cost of living across countries.
B. is an imperfect measure because of cultural differences.
C. is an imperfect measure because of typical weather and geographical differences.
D. All of these statements are true.
D. All of these statements are true.
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A sudden appreciation in the exchange rate of a country deteriorates the terms of trade of the country
a. True b. False Indicate whether the statement is true or false
Suppose a radar-activated braking system that can help prevent crashes is an option on a new car. It costs $600 and reduces the chance of dying in an auto accident by 1/700. The implicit value placed on life by a person who has the system installed is therefore:
A. at least $420,000. B. less than $420,000. C. at least $432,000. D. exactly $600.
Refer to the data provided in Table 11.4 below to answer the following question(s).
Table 11.4 
Refer to Table 11.4. If the interest rate is 22%, then the farmer will only
A. buy the bookkeeping software and the grain storage tanks. B. buy the tractor. C. buy the tractor and the irrigation system. D. buy the bookkeeping software.
All output combinations that lie outside a production possibilities curve are attainable with available resources and technology.
Answer the following statement true (T) or false (F)