Refer to Figure 18.1. ________ has a comparative disadvantage in bicycles and ________ has a comparative disadvantage in hang gliders
A) Canada; the United States B) The United States; Canada
C) Canada; Canada D) The United States; the United States
B
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Refer to Table 11.1. What is the value of the marginal propensity to import?
A) 0.15 B) 0.25 C) 0.6 D) 0.9
GDP is not a complete measure of well-being
Indicate whether the statement is true or false
Exhibit 9-8 Profit maximizing for a monopolist
?
As shown in Exhibit 9-8, if the monopolist produces the profit-maximizing output, total revenue is the rectangular area:
A. OQAP1. B. OQ2BP2. C. OQ3CP3. D. OQ2DP4.
Price ceilings and price floors:
A. make the rationing function of markets more efficient. B. interfere with the allocation function of prices. C. cause surpluses and shortages in markets respectively. D. cause demand and supply curves to shift thus having no effect on the rationing function of prices.