When an immigrant sends a remittance from his host country to his family in his home country, the benefits of immigration to the:
A. Home and host country are increased
B. Home and host country are decreased
C. Host country are increased, but decreased to the home country
D. Host country are decreased, but increased to the home country
D. Host country are decreased, but increased to the home country
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A town wants to build a new bridge. Construction firms will submit sealed bids
The town will award the contract to the firm that submits the lowest bid and will pay the firm the amount of the second lowest bid (that is, the town will conduct a second-price procurement auction). So, for example, if Firm A bids $8 million, Firm B bids $9 million, and Firm C bids $10 million then the city will award the contract to Firm A (it submitted the lowest bid) and pay Firm A $9 million (the amount of the second lowest bid). Suppose your firm is willing to build the bridge for a minimum of $9 million. a. Show that bidding $9 million is a better strategy than bidding some amount below $9 million— say, $7 million. b. Show that bidding $9 million is a better strategy than bidding some amount above $9 million—say, $11 million.
A direct relationship occurs when
A) the two variables being compared change in opposite directions, or when one goes up the other goes down. B) a change in one of the variables causes a change in the other variable in any direction. C) the two variables being compared change in the same direction, or when one goes up the other also goes up. D) the two variables have no identifiable relationship with each other.
If a monopolist's marginal revenue exceeds its marginal cost at its current level of output, then to maximize its profit the monopolist should:
A. do nothing. B. increase output until marginal revenue equals marginal cost. C. increase output until price equals marginal cost. D. decrease output in order to increase the gap between marginal revenue and marginal cost.
Refer to the following graph.
FH is the ________, which tells us how much of good B must be exchanged on ________ market to obtain an additional good A
A. consumption possibilities curve; domestic B. production possibility curve; domestic C. production possibility curve; world D. consumption possibilities curve; world