Guías de estudio, Notas de estudios & Resúmenes

A quota is a limit placed on the quantity of goods that can be imported into a country. A tax imposed by a government on imports of a good into a country is called a tariff. Rob Crusoe and Bill Friday spent their week-long vacation on a desert island where they had to find and prepare their own food. Rob and Bill spent one day each fishing and picking berries. The table lists the pounds of output Rob and Bill produced. Refer to Table 7-1. Use the table above to select the statement that ...

The concept of scarcity, as used by economists, refers to A situation in which the available resources are not enough to satisfy the wants of the people. An important implication of scarcity is that People must make a choice. The opportunity cost of a choice is the Value of the next best activity not chosen. The opportunity cost of attending college Includes the lost wages that would have been earned if the student had not attended college. When the economy is in recession, jobs are gene...

Which of the following did not help Thailand maintain its peg against the dollar in the 1990s?foreigners selling off new investments in Thailand The ________ in the United States is best described as a managed float exchange rate system.current exchange rate system An increase in the demand for American-made goods willincrease the demand for dollars on the foreign exchange market. Destabilizing speculation refers toactions taken by investors who sell a country's currency in anticipat...

ECO 2013 Quiz One

ECO 2013 Final Exam - Questions and Answers In computing GDP, market prices are used to value final goods and services because a. market prices reflect the values of goods and services to the buyer. b. market prices do not change much over time, so it is easy to make comparisons between years. c. if market prices are out of line with how people value goods, the government sets price ceilings and price floors. d. None of the above is correct; market prices are not used in computing GDP. Economi...