The terms of trade (TOT) is defined as
A) (index of export prices)/(index of import prices).
B) (home-country currency)/(foreign-country currency).
C) .
D)
E) having a competitive advantage over other nations.
A
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Unions can increase labor productivity by
A) maximizing the number of workers in the union. B) reducing the supply of workers over time. C) reducing conflicts between workers and management. D) reducing the quantity of poorly made imports into the country.
Suppose that a monopolist must choose between two points on its demand curve; it can sell 100 units for $3 each, or it can sell 160 units for $2 each. Which of the following is true?
a. The monopolist is facing an elastic demand. b. The monopolist is facing unit elastic demand. c. The monopolist is facing inelastic demand. d. The monopolist is facing perfectly elastic demand. e. The elasticity of demand cannot be determined with the information given.
A monopolist always selects a price on the elastic portion of its demand curve
a. True b. False Indicate whether the statement is true or false
The law of comparative advantage suggests that
What will be an ideal response?