If you are traveling in China and you purchase a meal that costs 140 yuan and the current exchange rate is 7 yuan to the dollar, then the price of the meal in U.S. currency is
A. $200.
B. $20.
C. $10.
D. $2.
Answer: B
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Many of the new pollutants to which the world has been subjected are
A. more visible to the naked eye. B. less malodorous and less visible. C. less dangerous due to new environmental regulations. D. pose less health risks.
Define the following terms and explain their importance to the study of macroeconomics:
a. velocity b. equation of exchange c. monetarism d. automatic stabilizer
George and Brad are waiters at a local restaurant. The female customers think that George is better looking than Brad. If George earns more than Brad, this could be an example of each of the following except
a. customer preferences. b. discrimination. c. a beauty premium. d. a compensating differential.
The key characteristics of a monopolistically competitive market structure include
A) many small (relative to the total market) sellers acting independently.
B) barriers to entry are strong.
C) all sellers sell a homogeneous product.
D) sellers have no incentive to advertise their products.