If 1 U.S. dollar exchanges for 0.9 Canadian dollars, how much would it cost in U.S. dollars and cents to purchase a Canadian hockey jersey priced at 45 Canadian dollars?
What will be an ideal response?
45 รท 0.9 = $50.00
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Jill runs a factory that makes lie detectors in Little Rock, Arkansas. This month, Jill's 34 workers produced 690 machines. Suppose Jill adds one more worker and, as a result, her factory's output increases to 700 Jill's marginal product of labor from the last worker hired equals ________.
A) 10 B) 20 C) 690 D) 700 E) None of the above answers is correct.
If a producer can use resources to produce either good A or good B, then A and B are
A) complements in production. B) substitutes in production. C) substitutes in consumption. D) complements in consumption.
According to Keynes,
A) prices decline as inventories increase. B) prices increase as inventories increase. C) prices decrease as inventories decrease. D) prices are sticky and will probably not respond to a change in inventories.
The growth of total railroad mileage
(a) was far greater after the Civil War than before. (b) was maximized in miles built per decade before 1860. (c) was a free-market phenomenon, not subject to government subsidies. (d) was not subject to business cycle fluctuations.