Examlex
The "Big Mac Theory of Exchange Rates" tests the accuracy of purchasing power parity theory.In July 2015,The Economist reported that the average price of a Big Mac in the United States was $4.79.In India,the average price of a Big Mac at that time was 116.25 rupees.What is the "implied exchange rate" between the yen and the dollar?
Opportunity Cost
The lost benefit that could have been enjoyed if the chosen option had not been taken, implying the trade-off of forgoing the next best alternative.
Efficient Production Process
A method of production that uses the least amount of resources to achieve the maximum output.
Resources And Technology
The combination of natural resources, human resources, and technology that firms use to produce goods and services.
Opportunity Cost
The cost of an alternative that must be forgone in order to pursue a certain action; the benefits you could have received by taking an alternative action.
Q4: Which of the following is NOT true
Q8: Which of the following is NOT an
Q9: Assume that there are two types of
Q10: If national saving increases,_.(Assume that the capital
Q14: Recent studies suggest that may _ be
Q20: If the net private return of return
Q46: If the average productivity of American firms
Q66: If a country has a _ exchange
Q187: If we take into account transfer payments
Q222: If weak aggregate demand is pushing the