Globalization refers to a process involving many complex elements, one of which is that
a. the time it takes for goods, people, information, and money to flow across borders is expanding.
b. lower transportation costs mean cheap labor in distant places can be exploited.
c. the world is increasingly defined by separate markets rather than one dominant market.
d. international trade decreases relative to domestic trade.
b. lower transportation costs mean cheap labor in distant places can be exploited.
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Monopolists use the hurdle method of price discrimination in order to:
A. produce the socially optimal level of output. B. increase the demand for their good. C. lower their marginal cost. D. separate consumers on the basis of their reservation prices.
Use the following table, which lists output quantities and prices for the only three goods in the economy, to answer the next question. The base year is 2007.YearHot DogsBaseballsBottles of Beer?PriceQuantityPriceQuantityPriceQuantity2005$2.50100$2.5050$1.0010020064.001005.001002.0015020075.001005.001002.0020020088.001508.002004.00200200910.0020010.002004.00250The Consumer Price Index for the year 2005 is
A. 150. B. 100. C. 50. D. 200.
________ emphasize(s) that changes in prices and interest rates are the main reasons behind fluctuations in the economy
A) The real business cycle theory B) Keynesian theory C) Ricardian theory D) Monetary theories
Firms are consumers and households are producers in the _____ market
a. stock b. bond c. labor d. product e. underground