The Big Mac Index perfectly explains the relative size of economies.
a. true
b. false
b. false
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Both tariffs and quotas lead to a decrease in imports, a decrease in domestic consumption, and an increase in domestic production
Indicate whether the statement is true or false
Occupations X and Y employ persons with the same productivity. Workers in the two occupations work the same number of hours per day when on the job. Employment is stable throughout the year in X, while Y is characterized by seasonal layoffs. How will the hourly wage rate and annual earnings compare in the two occupations?
a. The hourly wage rate will be higher in X, but the annual earnings will be higher for Y. b. Both the hourly wage rate and annual earnings will be higher in X. c. Both the hourly wage rate and annual earnings will be higher in Y. d. The hourly wage rate will be higher in Y, but the annual earnings will likely be higher for X.
Which are the main trading partners of the United States?
(A) Germany, Great Britain, China, and France. (B) Canada, Mexico, China, and Japan. (C) The Middle Eastern countries. (D) The Central American countries.
The problem causing most recessions is too little
A) money (currency plus checking accounts). B) spending. C) unemployment. D) taxes.