The cross-price demand for capital (relative to the wage) may slope up or down.
Answer the following statement true (T) or false (F)
True
Rationale: See Graph 13.9.
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Figure 4.4 illustrates the supply of tacos. An increase in the price of ground beef, which is used to make tacos, would most likely cause a movement from
A) point a to point b. B) point c to point b. C) S2 to S1. D) S0 to S1.
The exit of firms from a monopolistically competitive market structure causes the demand curves facing the existing sellers to shift ________ and to become ________
A) leftward; flatter B) rightward; flatter C) leftward; steeper D) rightward; steeper
Suppose that a country is producing on its PPC at a point to the left of the tangency between the trade line and the PPC. At the production point,
A) the opportunity cost in production of the good on the horizontal axis is less than its trade price. B) the opportunity cost in production of the good on the horizontal axis is more than its trade price. C) the opportunity cost in production of the good on the vertical axis is less than its trade price. D) the opportunity cost in production of the good on the horizontal axis may be either less than or more than its trade price. E) the opportunity cost in production of the good on the vertical axis equals its trade price.
Realism and liberalism hold very different theories about international law. Theorists who promote realism see international law as a way to
a. strengthen the foundation of global politics. b. promote power politics and self-interest. c. regulate relations in mutually beneficial ways. d. redress much of the injustice in the world.