Refer to the information provided in Table 33.4 below to answer the question(s) that follow.
Table 33.4GermanyChileBeerWineBeerWine(cases)(cases)(cases)(cases)75030 060152412453018 24304512 361560 6 48075 0 60 Refer to Table 33.4. In Germany, the opportunity cost of 1 case of wine is
A. 1/2 case of beer.
B. 1 case of beer.
C. 2 cases of beer.
D. 5 cases of beer.
Answer: B
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Suppose a country's net exports equal -$21.3 billion. Which of the following will happen if the volume of exports increases by $1 billion, imports remaining unchanged?
A) The country's net exports will be equal to -$20.3 billion. B) The country's net exports will become positive. C) The country's net exports will be equal to -$22.3 billion. D) The country's net exports will be zero.
Who is cyclically unemployed?
A) Katrina, an assistant manager who quit her job to search for a better job closer to home B) David, a new car salesman who lost his job because the economy went into a recession C) Samantha, who quit her job to return to college to earn her MBA D) Casey, who lost his job because the technology changed so he was no longer needed E) Kathy, a steelworker who was laid off but has stopped looking for a new job because she can't find a new job
The use of money is more efficient than barter because the introduction of money
A) reduces the need for economic specialization. B) reduces the need to exchange goods. C) reduces the need for other stores of value. D) reduces transaction costs.
The leakage and injections approach implies that a government deficit is financed by
A) private saving less private investment plus net exports. B) private investment less private saving plus net exports. C) the trade deficit must always offset the government deficit. D) None of the above.