US recession lasting from December 2007-June 2009
What will be an ideal response?
great recession
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In early 2012 the price of computer hard disc drives rose. In a demand and supply model, shifts in what curve or curves could have brought about the higher price?
What will be an ideal response?
Refer to Figure 2-9. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of popsicles?
A) Greenland B) They have the same advantage. C) Iceland D) cannot be determined
According to the figure, MiiTunes:
This figure displays the choices and payoffs (company profits) of two music shops-MiiTunes and The Rock Shop. MiiTunes is an established business in the area deciding whether to charge its usual high prices or to charge very low prices, in the hopes that a new business will not be able to make a profit at such low prices. The Rock Shop is trying to decide whether or not it should enter the market and compete with MiiTunes.
A. has a dominant strategy to charge low prices.
B. does not have a dominant strategy.
C. has a dominant strategy to charge high prices.
D. has more than one dominant strategy.
Protectionism is the view that free trade is ________ and should be ________.
A. inevitable; allowed B. harmful; restricted C. illegal; forbidden D. helpful; encouraged