Wayne Brown is a Canadian citizen studying on our campus. When he came to school last fall, he had 400 Canadian dollars (C$), which at that time were worth $300 U.S. dollars (US$). When he went back to Canada in June, US$300 could purchase C$450 . In June, the U.S. dollar purchased
a. 12.5 percent more Canadian dollars than it did last fall
b. 12.5 percent fewer Canadian dollars than it did last fall
c. 11.11 percent more Canadian dollars than it did last fall
d. 11.11 percent fewer Canadian dollars than it did last fall
e. the same amount of Canadian dollars, in percentage terms, as it did last fall
A
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Supplier power is high when
a. Suppliers are concentrated b. The inputs provided are critical c. The inputs provided are unsubstitutable d. All of the above
Which of the following statements is true concerning the trend in hospital care between inpatient and outpatient services since the mid-1980s?
a. Both have been declining. b. Outpatient services have been growing while inpatient services have been declining. c. Outpatient services have been declining while inpatient services have been growing. d. Both have been growing. e. There has been no noticeable trend in either inpatient or outpatient services.
If the government wishes to decrease GDP by $2,000b, and the MPC is 0.6, it should:
A. increase its spending by $800b. B. decrease its spending by $800b. C. decrease its spending by $1,200b. D. increase its spending by $1,200b.
If a firm in a perfectly competitive market is currently producing the output where price = marginal cost = average total cost, the firm is:
A. earning a positive economic profit. B. earning a zero economic profit. C. suffering an economic loss. D. All of these