If $1.00 U.S. was equivalent to $1.40 Canadian in 2006 and $1.00 Canadian in 2010, it implies that the:
a. U.S. dollar appreciated against the Canadian dollar in 2010.
b. Canadian dollar weakened against the U.S. dollar in 2010.
c. U.S. dollar strengthened against the Canadian dollar in 2010.
d. Canadian dollar appreciated against the U.S. dollar in 2010.
d
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When a baker exchanges a pie for dollars, this is an example of dollars serving as
A. a unit of account. B. a store of value. C. a medium of exchange. D. barter.
The slope of the indifference curve between steak and lobster is always equal to the ratio of their prices
Indicate whether the statement is true or false
An issue never confronted effectively by GATT, but considered an important issue for WTO is that of
A) the promotion of freer World trade. B) the promotion of freer World commodity trade. C) the promotion of freer World services trade. D) the lowering of tariff rates. E) the liberalization of trade.
Recipients of Medicare tend to demand a greater quantity of low-value, high-cost services because
A) the services are readily available. B) recipients are coerced into demanding such services. C) the government mandates that they demand such services. D) the services are heavily subsidized.