It seems likely that economic sanctions ultimately would have led to regime change in Iraq
Indicate whether the statement is true or false
FALSE
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Government bureaus, unlike private firms,
a. derive their revenue by selling output to the government b. have incentives to respond to consumers' desires c. price their output by equating marginal cost and marginal revenue d. attempt to achieve zero profit e. receive little consumer feedback
Suppose Sarah owns a small company that makes wedding cakes. The accompanying table shows how Sarah's total cost varies depending on the number of wedding cakes she makes each day.Number of Cakes Per DayTotal Cost Per Day0$1001$1802$2203$3004$4005$5206$660 If the market for wedding cakes is perfectly competitive, and wedding cakes sell for $125 each, then at her profit-maximizing level of output, Sarah's profit will be ________ per day.
A. $105 B. $100 C. $625 D. $90
Recall the Application about the impact tariffs have on lower income households to answer the following question(s). Economists have found that tariffs in the United States fall most heavily on lower-income consumers. In the United States, tariffs are very high on textiles, apparel items and footwear, and within these categories the highest tariffs fall on the cheapest products. In general, to protect U.S. industries, tariffs are highest on labor-intensive goods.If the tariffs on textiles, apparel items, and footwear mentioned in the Application were replaced by equivalent voluntary export restraints (VERs), who would benefit the most?
A. low-income consumers B. high-income consumers C. the U.S. government D. the foreign manufacturer
If the foreign exchange rate is one dollar for 10 South African rand, then how many dollars are needed to purchase an item that costs 400 rand?
A) 10 B) 40 C) 400 D) 4,000