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Unformatted text preview: demand curve is to the right of the weekday demand curve. C) demand curve is random. D) supply curve is to the right of the weekday supply curve. E) supply curve is to the left of the weekday supply curve. 3) If one Canadian dollar can be exchanged for 0.5 euros, we say that the Canadian -euro exchange rate is A) 0.5. B) 2.0. C) 5.0. D) 20. E) 1.0. The following production possibilities schedule shows the quantities of soybeans and oil that can be produced in Canada and Mexico with one unit of equivalent resources. Soybeans (bushels) Canada 60 Mexico 24 TABLE 33-3 4) Refer to Table 33-3. Mexico would not gain by producing and exporting oil and importing soybeans unless it received A) any quantity of soybeans. B) 2 bushels of soybeans per barrel of oil. C) more than 3 bushels of soybeans per barrel of oil. D) more than 6 bushels of soybeans per barrel of oil. E) more than 10 barrel of oil. Oil (barrels) 10 8 1 5) Refer to Table 33-3. The opportunity cost of a barrel of oil in Canada is A) 16.67 bush...
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This test prep was uploaded on 03/13/2014 for the course ECON 101 taught by Professor Vanderwaal during the Fall '08 term at Waterloo.
- Fall '08