Mary can clean 20 windows per hour or type 30 pages of paper per hour. Tom can clean 18 windows per hour or he can type 25 pages of paper per hour. Based on this
A. Mary has comparative advantages in both activities.
B. Tom has a comparative advantage in cleaning windows.
C. Tom has comparative advantages in both activities.
D. Mary has a comparative advantage in cleaning windows.
Answer: B
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The table above shows the exchange rates between various currencies and the U.S. dollar. Between 2015 and 2016, the U.S. dollar ________ against the Euro and ________ against the Japanese yen
A) depreciated; depreciated B) appreciated; appreciated C) appreciated; depreciated D) depreciated; appreciated
Joey cuts lawns during the summer. Let q equal the number of acres mowed per day, and let L equal the number of hours worked per day
Joey never works more than eight hours per day, and during that time his short-run production function is q = 0.2 ? L. Which of the following statements is FALSE? A) Joey's marginal product equals his average product. B) Joey's marginal product diminishes by 0.2 for each additional hour worked. C) Joey's average product is constant. D) Joey's marginal product is constant.
Which of the following will not shift the demand for the euro to the right?
A) an increase in interest rates in the European Union B) an increase in incomes in countries that buy goods from the European Union C) expectations among speculators that the price of the euro will rise in the future D) a decrease in the demand for European goods
What happens to quantity supplied when the price is raised?
A. It rises B. It falls C. It stays the same D. It cannot be determined if it rises, falls, or stays the same