Dumping refers to the practice of one country selling off its surplus goods in other countries
Indicate whether the statement is true or false
F
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A movie shown on a pay-per-view cable station is an example of
A) an excludable and rival good. B) a nonexcludable and rival good. C) an excludable and nonrival good. D) a nonexcludable and nonrival good.
If the increase in government expenditures of World War II (1941–45) is matched against the decrease in private investment and consumption during the same period, it was the end of World War II that officially concluded the depression era, not
the start of World War II, according to Robert Higgs (2007). Indicate whether the statement is true or false
If the price elasticity of demand for a good is 5.0, then a 10 percent increase in price results in a
a. 0.5 percent decrease in the quantity demanded. b. 2.5 percent decrease in the quantity demanded. c. 5 percent decrease in the quantity demanded. d. 50 percent decrease in the quantity demanded.
Economic models typically assume that decision makers face constraints because of scarce resources
a. True b. False