When the value of U.S. merchandise exports is less than the value of U.S. merchandise imports,
a. the exchange rate, other currencies per dollar, appreciates
b. the value of the dollar must fall
c. there will be an increase in the demand for dollars
d. an unfavorable balance of trade results
e. foreign currency reserves must fall
D
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Production data for Joe's Pizza Parlor are as follows. For simplicity assume that labor is the only input. Each pizza sells for $5. Number of WorkersPizzas Baked Per Day00110218324430532How many workers will Joe hire if he must pay each one $35 a day?
A. 1 B. 2 C. 3 D. 4
If banks engage in fractional reserve banking, it means that
A) they hold less than 100 percent of their deposits as reserves. B) they do not hold any excess reserves. C) a fraction of their legal reserves are held as top-grade government securities. D) they never run short of currency.
If a game has a pure strategy Nash equilibrium then
A) it might also have a mixed strategy equilibrium. B) it does not have a mixed strategy equilibrium. C) at least one player has a dominant strategy. D) no player has a dominant strategy.
Which of the following is indicated by the data on real income per person for various countries over the past 100 or so years?
a. If, in a relatively poor country, real income per person had grown by 3.5 percent per year for the last 100 years, it would be a relatively rich country today. b. Rich countries became richer and poor countries became poorer. c. In the United States, real income per person today is about four times as high as it was 120 years ago. d. All of the above are correct.