If three cell phone providers are in an agreement, this is an example of a ________ agreement.
A) vertical B) leftward C) horizontal D) rightward
C) horizontal
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If the U.S. government enters the foreign exchange market and purchases dollars to maintain a specific exchange rate with the yen, the dollar will ________ and the yen will ________
A) depreciate; depreciate B) depreciate; appreciate C) appreciate; depreciate D) appreciate; appreciate
Suppose that a car was produced but not sold in 2013. The car could still be sold in 2014. According to the book, the car would be counted as part of:
A. 2013 GDP as investment. B. 2014 GDP, as consumption. C. 2014 GDP as investment. D. neither 2013 or 2014 GDP.
Which of the following is NOT a key economic feature of the European Union (EU)?
A. London's dominance as Europe's financial center B. A single market that promotes free movements of goods, services, financial capital, and people among EU member countries C. A customs union, which imposes common tariffs on imports from non-EU D. A common currency, the euro, used by all member countries
If the number of highway deaths among young people is roughly proportional to their beer consumption, and young people's elasticity of demand for beer is 1.5, then a tax increase that increases the price of beer by 20% would roughly reduce highway deaths of young people by:
A. 1.5%. B. 13.33%. C. 20%. D. 30%.