Elizabeth's opportunity cost of selling a widget is $18, while Jess values it at $27 . Identify the correct statement from the following
a. Jess can threaten to go to another seller if the transaction benefits Elizabeth more than her.
b. The core is of the zone of agreement.
c. The core consists of prices above $27, which benefits both parties.
d. Elizabeth can threaten to go to another seller if the transaction benefits Jess more than her.
B
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If the U.S. imposed import quotas on cotton, then which of the following would rise?
a. the U.S. real exchange rate and U.S. net exports b. the U.S. real exchange rate but not U.S. net exports c. U.S. net exports but not the U.S. real exchange rate d. neither the U.S. real exchange rate nor U.S. net exports
One World View article is titled "Comparative Macro Performance." According to the text, of the six countries listed, ________ experienced the fastest growth in real GDP.
A. The United Kingdom B. Canada C. Japan D. The United States
When income rises, total expenditures remain constant.
Answer the following statement true (T) or false (F)
In a market, the rationing function of prices results in
A. long waiting lines. B. a shortage or surplus. C. a price ceiling. D. an equilibrium between supply and demand.