The principal result of the rising value of the U.S. dollar in the mid-1990s was a(n)
a. balance of payments deficit.
b. balance of payments surplus.
c. increase in the rate of inflation.
d. increase in the unemployment rate.
a
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Using Figure 6-2, calculate the price elasticity of demand (dropping all minus signs) between P = 4 and P = 6.
A. 3.0 B. 0.33 C. 0.40 D. 1.25
Which of the following explain(s) better the fact that computers are cheaper now than 10 years ago?
a. c and d. b. c and e. c. The technology used in the production of computers has improved during this period. d. Resources used in the production of computers have become cheaper during this period. e. The demand for computers has increased substantially during this period.
Suppose the government auctions off permits to car and truck owners, with each permit allowing the user to emit five tons of carbon dioxide each year from her or his vehicle. The total amount of carbon dioxide permitted is less than the amount currently emitted by vehicles. These permits could then be bought and sold on a market. Which of the following would occur?
A. People would pay less attention to their vehicle emissions than they do now because they could simply buy a permit and emit more. B. People would tend to purchase cars that emitted less carbon dioxide. C. The total amount of fossil fuels burned in vehicles would actually increase. D. Wealthy people would bear a larger burden under this system, relative to their incomes.
Winner-take-all markets
A. don't exist. B. explain why CEOs of large corporations make so much money. C. explain why American CEOs make so much less money than their foreign counterparts. D. explain the difference between the primary and secondary labor markets.