Refer to the information provided in Figure 4.5 below to answer the question(s) that follow.
Figure 4.5Refer to Figure 4.5. At the world price of $15 per CD-Rom drive, the United States imports ________ million CD-Rom drives.
A. 3
B. 6
C. 9
D. 12
Answer: C
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A country with an undervalued currency
A. will have a balance of payments deficit. B. will accumulate reserves of foreign currencies. C. will suffer losses of foreign reserves. D. must intervene in the foreign-exchange market to buy its own currency.
Explain how a monopolist can increase profits by price discriminating. What are the conditions necessary for price discrimination?
What will be an ideal response?
Enron's bankruptcy is much more troubling than Kmart's or Global Crossing's because
A. Enron was much bigger. B. Enron had more stockholders. C. Enron had more employees. D. Enron's trouble resulted from corrupt accounting practices.
The top 10% of income earners pay ________ of federal income taxes.
A. 10% B. 53% C. 93% D. 71%