The impact of economic growth on a country's willingness to trade is determined solely by the extent of the shift of its production-possibility curve.
Answer the following statement true (T) or false (F)
False
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In a perfectly competitive market ________
A) the goods purchased are assumed to be standardized products B) prices adjust quickly to equilibrium C) buyers and sellers are price takers D) all of the above E) none of the above
Demand is a schedule of
A) how much of a good a person wants. B) how much of a good people will purchase at each different possible price. C) how much of a good people will purchase at each income level. D) each possible price and the amount people will buy when their incomes change.
Vertical integration often aims to
a. Prevent the retailers from defeating upstream price discrimination through arbitrage b. Avoid paying higher taxes c. Serve as a "signal" of the manufacturer's belief of the likely success of his product d. All of the above
What role does ideology play in the debate on stabilization?
a. A large role, because there are conservative and liberal economists. b. A primary role, because there are no economic aspects to the debate at all. c. A minor role, because economists are fairly uniform in their political views. d. No role at all, because this is purely a technical question.