Week 7 Quiz

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

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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
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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...
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This note was uploaded on 04/15/2010 for the course ECO 2252 taught by Professor Edward during the Spring '08 term at Troy.

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