International trade occurs because the ________ cost of producing specific goods differs across countries
a. variable
b. fixed
c. sunk
d. opportunity
d
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If a life insurance company offers coverage regardless of age, health status, or smoking history, it is likely to suffer
A) moral hazard problems. B) adverse selection problems. C) lower costs. D) low demand for its product.
If you as a lender want an increase in purchasing power of 4 percent from making a loan and you set the nominal interest rate at 9 percent, then your
A. real rate of interest is 13 percent. B. expected rate of inflation is 5 percent. C. expected rate of inflation is 13 percent. D. real rate of interest is 36 percent.
________ unemployment measures those out of work during the off-season, such as those employed in snow- or beach-related industries, agriculture, and/or holiday activities.
A) Seasonal B) Frictional C) Structural D) Cyclical E) Temporary
Figure 10.6 shows prices, demands, and cost data for the only restaurant in a small town. Compared to the profit under the single price policy, how much additional profit does the restaurant earn under the senior discount policy of a $7 senior price and a $10 non-senior price?
A. $920 B. $580 C. $300 D. $280