{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Week 7 Quiz - 7 Which of the following will NOT shift the...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
Week 7 Quiz 1. Resource pricing is important because: Of all the above reasons 2. If incomes rise rapidly in the United States and the U.S. preferences for foreign goods strengthen, we would expect: The dollar to depreciate in value 3. The nations of the Euro Zone have Abandoned their national currencies and switched to a common currency 4. ATM’s and human bank tellers: Are substitute resources 5. Marginal resource cost is: The increase in total resource cost associated with the hire of one more unit of the resource 6. A nations true gain from international trade is An overall increase in output obtained through specialization and exchange
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 7. Which of the following will NOT shift the demand curve for labor? A change in the wage rate 8. Which of the following is a true statement? The United States is almost entirely dependent on other countries in obtaining items such as silk, nickel, tin, and coffee 9. Madison, the CPA, is faster than Mason, the house painter, at both accounting services and painting. This means that: Madison should trade her accounting services for Masons painting services, so long as Madison is relatively more efficient at accounting services...
View Full Document

{[ snackBarMessage ]}

Ask a homework question - tutors are online