Author: Anonymous

The following table illustrates what can be produced in 1 day with the same stock of resources in Slovakia and Croatia. Use the information to answer the following questions.     potatoes  wheat Slovakia 50 25 Croatia 30 18 Opportunity cost of potatoes for Slovakia is ________ wheat: (round to 2 digits behind the decimal IF applies)

The height of the demand curve for a product indicates the

Refer to Figure 4-25. If P1 =10, P2 = 5, P3= 15, Q1=20 and Q2 = 10 then what is Dead Weight Loss?

Institutions have a big impact on the prosperity of a nation. Which of the following categories of institutions did we learn about? (check all that apply)

Alex wants to travel to Utah to climb Angels Landing and is trying to decide if he should drive or fly to the location.  The flight to Utah would cost $800 and take 6 hours.  Also if he flies, he would need to rent a car at an additional total cost of $200 (including gas) and drive an additional 2 hours total between the airport and the mountain.  If Alex were to drive his 4runner from Gainesville out to Angels Landing, the trip would take 78 hours and cost him $300.  Other things constant, Alex would choose the flight plus rental car option if and only if the value of his time is at least

Assume that Bob can produce 29 widgets in a day and the widgets sell for $4.50 to stores. Bob’s marginal revenue product is $ _____________.

Consider the market for rice in the USA. Before the tariff, producer surplus is: 

Economists’ biggest concern with tariffs is that surplus is transferred between consumers and producers.  

On April 1, 2020, Shannon Company, a U.S. company, borrowed 100,000 euros from a foreign bank by signing an interest-bearing note due April 1, 2021. The dollar value of the loan was as follows:   Date Amount April 1, 2020 $ 97,000   December 31, 2020   103,000   April 1, 2021   105,000     Angela, Inc., a U.S. company, had a euro receivable from exports to Spain and a British pound payable resulting from imports from England. Angela recorded foreign exchange gain related to both its euro receivable and pound payable. Did the foreign currencies increase or decrease in dollar value from the date of the transaction to the settlement date?     Euro Pound A) Increase Increase B) Increase Decrease C) Decrease Decrease D) Decrease Increase E) No change Decrease

Less than 50% of the countries in the world are considered to be democratic (either full or flawed democracies).