Cigarettes served as money in some POW camps during World War II. Given this fact, we would expect to observe
A) no one ever smoking a cigarette.
B) people usually resorting to barter rather than using cigarettes as money.
C) prices of other goods expressed in terms of cigarettes.
D) only government-issued cigarettes being accepted as money.
C
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Foreign exchange rates refer to the
A. price of one nation's currency in terms of another nation's currency. B. difference between exports and imports of a particular nation with another. C. price at which purchases and sales of foreign goods take place. D. rate of exchange of goods and services between two trading nations.
For there to be positive network externalities
A) there must be a direct size effect. B) there must be an indirect size effect. C) introductory prices are required. D) None of the above.
Relative to Canada, China has a ________ growth rate in GDP and a ________ level of real GDP
A) higher; lower B) higher; higher C) lower; lower D) lower; higher
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.