A seller's reservation price is generally equal to:
A. the market price.
B. the seller's marginal benefit from producing an additional unit.
C. the buyer's reservation price.
D. the seller's opportunity cost of producing an additional unit.
Answer: D
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The Federal Reserve System is organized into
A) one large district covering the entire United States. B) three districts, one for each of the countries in North America. C) 12 districts, dividing up the countries in North America. D) 50 districts, one per state. E) 12 districts, dividing up the United States.
Rachel usually takes long coffee breaks and works less whenever her boss is out of town for business
However, she started taking shorter breaks when the Human Resource Manager at her company announced that each employee will henceforth be paid a performance-based incentive every month. What explains her behavior before and after the announcement of the new policy?
In 2016 the United States imported approximately ________ percent of all goods and services produced in the country.
A. 8 B. 3 C. 20 D. 15
Calculate the effective rate of protection for the domestic MP3 player industry following the imposition of a 20 percent tariff on the imports of MP3 players. The cost of material inputs used in the production of MP3 players in the country is $100 per unit, and there is free trade in these material inputs. The world price of MP3 players is $175 per unit. Assume that the country is a small country.
A. 46?% B. 35% C. 72?% D. 20%