If the pound-dollar exchange rate is 2 pounds per dollar, what is the rate of dollars per pound?
a. 4 dollars/pound
b. 2 dollars/pound
c. 5 dollars/pound
d. 0.50 dollars/pound
e. 2.50 dollars/pound
D
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In addition to saving and investment in capital, making an even larger contribution to long-term economic growth in real GDP per person
A) are technological advances. B) is lower current consumption. C) is higher current consumption. D) is a larger work force.
Refer to the Article Summary. By marketing to pet owners, hotel companies like Klimpton, Choice, and W are trying to set themselves apart from competing hotel companies. This is an example of
A) product differentiation. B) defending a brand name. C) legally enforcing a trademark. D) blocking entry into the market.
For direct price discrimination to work effectively
a. The low-valued customers should not be able to engage in arbitrage b. You need to charge the same price to the different groups c. Both groups should have the same elasticity of demand d. None of the above
If personal income tax rates are decreased in an attempt to stimulate spending, we should expect to see
A. an increase in consumption and an increase in GDP. B. an increase in consumption and a decrease in GDP. C. a decrease in consumption and a decrease in GDP. D. a decrease in consumption and an increase in GDP.