In the last few decades, tariffs in developing countries have:
A. fallen by more than 20 percent.
B. risen by more than 20 percent.
C. fallen to 20 percent of their GDP.
D. risen to 20 percent of their GDP.
A. fallen by more than 20 percent.
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Demand is said to be elastic when percentage changes in quantity demanded are
A. less than the percentage changes in price. B. higher than the percentage changes in price. C. equal to the percentage changes in price. D. zero when price changes.
If this is an open economy, quantity of cars demanded domestically will be ________.
A. 40,000 B. 20,000 C. 80,000 D. 60,000
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point B to Point C so that an additional 20 OLED televisions could be produced, production of LCD televisions would have to be reduced by
A. more than 30. B. exactly 60. C. fewer than 30. D. exactly 30.
The table above lists the market shares of the twenty makers of personal computers. Based upon the Herfindahl-Hirschman Index
A) the industry is an oligopoly. B) the industry is a monopoly. C) the industry is competitive. D) the firms in the industry will not be allowed to merge.