Which of the following broad categories are resources divided into?
a. Natural resources, labor, capital, and entrepreneurial ability
b. People, money, and machines
c. Free, scarce, abundant, and unlimited
d. Savings, spending, investment, and capital
e. Human, technological, and government
Answer: Natural resources, labor, capital, and entrepreneurial ability
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If the purchasing power of the dollar is less than the purchasing power of the British pound, purchasing power parity predicts that the exchange rate will
A) decrease if the exchange rate is less than 1 pound per dollar. B) be equal to the relative purchasing power across the currencies in the long run. C) increase if the exchange rate is greater than 1 pound per dollar. D) All of the above are correct.
You can either invest in project A or B. Project A could have a value of $150 with a probability of 0.1 or a value of $75 with probability 0.9 . Project B could have a value of $120 with probability 0.2 or a value of $75 with a probability of 0.8 . Which project should you invest in?
a. Project A b. Project B c. Neither of the projects d. You cannot tell from the information presented