Presidents _____________ and _____________ will go down in history as the two greatest tax cutters.
What will be an ideal response?
Ronald Reagan; George W. Bush
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Suppose that the U.S. interest rate is 5 percent and the Turkish interest rate is 50 percent. The effect of this difference in the foreign exchange market is that
A) financial capital stops moving. B) an American investor is guaranteed to make an additional 45 percent in dollar terms by investing in Turkey. C) investors expect the Turkish currency to rise in value (appreciate) against the dollar. D) investors expect the Turkish currency to fall in value (depreciate) against the dollar.
The above figure shows Bob's utility function. He currently has $50 and is considering an investment that has a 50% chance of being worth $100 and a 50% chance of being worth $0. Bob will make the investment
A) if it costs less than $50. B) if it costs less than $30. C) if it is a fair game. D) under no circumstances.
An effect of international trade is
A) the increase in the average price of goods as the cost of transportation has to be included. B) the transmission of ideas around the world. C) that only countries that have absolute advantage in producing a good can participate. D) that the United States has a trade surplus.
Price elasticity of supply is defined as:
a. the slope of the supply curve. b. the slope of the supply curve divided by the price. c. the percentage change in price divided by the percentage change in quantity supplied. d. the percentage change in quantity supplied divided by the percentage change in price.