International borrowing and lending may be interpreted as one form of
A) intertemporal trade.
B) intermediate trade.
C) trade in services.
D) unrequited international transfers.
E) aid to offset trade advantages.
A
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Sweet Treats sells its extra-large cupcakes for $12 each and the firm has a constant marginal cost of $8 per cupcake, which is equal to its (constant) average total cost. If Sweet Treats does not sell a cupcake the day it is produced, it is sold as day-old for $4. Sweet Treats should hold the number of cupcakes in inventory that makes the probability of selling that quantity of cupcakes or more
equal to ________. A) 0.60 B) 0.40 C) 0.50 D) 1.00
A monopolist faces a demand curve that
A) is perfectly horizontal at the market price. B) is below the marginal revenue curve. C) is downward sloping. D) coincides with the industry supply.
In case of the classical model, increase in aggregate expenditure would:
a. shift the aggregate demand curve upward leading to an increase in real GDP and prices. b. shift the aggregate demand curve downward leading to an increase in real GDP and prices. c. shift the aggregate demand curve upward leading to a decrease in real GDP and prices. d. shift the aggregate demand curve downward leading to a decrease in real GDP and prices. e. shift the aggregate demand curve upward leading to an increase in prices and no change in real GDP.
Textile workers in the U.S. complain that they cannot compete with low cost foreign textile producers. While some U.S. textile workers may lose their jobs, an advantage is
a. the U.S. gets cheaper textiles b. U.S. imports will become more expensive so U.S. domestic producers gain c. workers in other countries will buy more U.S. clothing exports d. the U.S. can retaliate and its exporting strength is greater e. the U.S. can dump its textiles on other markets without fearing retaliation because U.S. textiles are made with high cost labor