Suppose there is a reduction in foreign output (Y*). This reduction in Y* will cause which of the following in the domestic country?
A) a reduction in output
B) a reduction in consumption
C) a reduction in net exports
D) all of the above
E) none of the above
D
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TV crime shows illustrate the prisoner's dilemma when the:
A. police interview suspects in the same room. B. police interview suspects in different rooms. C. judge ponders the sentence for the crimes. D. prisoners go to prison for the first time.
Figure 11.2Figure 11.2 shows demand and costs for a monopolistically competitive firm. At the profit maximizing output level, the firm's profit is:
A. $1,200. B. $1,050. C. $750. D. $375.
Though wages under bilateral monopoly are logically indeterminate, some wage rate is actually established in such market situations. Explain those economic and noneconomic factors that might be pertinent to the establishment of this wage
What will be an ideal response?
What is marginal utility and what is the law of diminishing marginal utility?
What will be an ideal response?