Which of the following does purchasing-power parity conclude should equal 1?
a. both the nominal and the real exchange rate.
b. the nominal exchange rate but not the real exchange rate
c. the real exchange rate but not the nominal exchange rate
d. neither the nominal exchange rate nor the real exchange rate
c
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Which of the following best explains why marginal revenue for a monopolist is less than the sales price? a. To sell more units, the monopolist must reduce price on all units sold
b. As the monopolist expands output, the average total cost of production declines. c. The monopolist charges each consumer the highest possible price. d. When a firm has a monopoly, consumers have no choice other than to pay the price set by the monopolist.
The level of real GDP person
a. differs widely across countries, but the growth rate of real GDP per person is similar across countries. b. is very similar across countries, but the growth rate of real GDP per person differs widely across countries. c. and the growth rate of real GDP per person are similar across countries. d. and the growth rate of real GDP per person vary widely across countries.
A "payday loan" is a ________ amount of money borrowed for short period, by ________ income people who have a checking account, a job, and direct deposit of their paycheck
a. large; higher b. small; higher c. large; lower d. small; lower
Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. Suppose Leo earns $10. He will lose ________ from each benefit, for a total loss of ________.
A. $.75; $1.00 B. $7.50; $15.00 C. $7.50; $7.50 D. $.75; $1.50