Trade results from
A) comparative advantage. B) diminishing returns.
C) self-sufficiency. D) absolute advantage.
A
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When there are many thousands of small stockholders in a company, for each the cost of monitoring manager performance is well __________ the benefits of doing so, which helps __________ the manager-stockholder problem
A) above; alleviates B) above; brings on C) below; alleviates D) below; brings on
Suppose that the exchange rate between British pounds and U.S. dollars is originally $2.50 per pound. If it then changes to $3 for 1 pound, the price of U.S. goods to British importers will: a. rise
b. fall. c. stay the same. d. change in an indeterminate direction.
The poor are those who fall too far behind the average income. This refers to the ____ definition of poverty.
A. marginal B. absolute C. relative D. threshold
The natural monopoly in Figure 8.14 wants to charge a price of:
A. P1. B. P2. C. P3. D. P4.