When, in our analysis of the gains and losses from international trade, we assume that a particular country is small, we are
a. assuming the domestic price before trade will continue to prevail once that country is opened up to trade with other countries.
b. assuming there is no demand for that country's domestically-produced goods by other countries.
c. assuming international trade can benefit producers, but not consumers, in that country.
d. making an assumption that is not necessary to analyze the gains and losses from international trade.
d
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Which of the following is NOT an example of the opportunity cost of investing in human capital?
A) lost wages while in school B) lost wages while in on-the-job training C) tuition payments D) apartment rent while working and going to school part-time
A commitment is a form of strategy
Indicate whether the statement is true or false
In order to calculate the HHI, the government must first define the relevant market.
Answer the following statement true (T) or false (F)
Which of the following situations is descriptive of the existence of a negative externality.
A. Vernon studies for his biology test late into the night and oversleeps the next morning, thus missing the test. B. Nancy is in the library looking for a book. She is talking to herself and consequently disturbs a few people in the library. C. Bob learns later that he could have purchased a pair of shoes for less than he paid. D. Jackie has had the flu and has stayed in bed for a week. E. none of the above