Retaliation of trade restrictions can:
What will be an ideal response?
set off still greater trade restrictions, leading to an outright trade war.
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Without changes in MC to maximize profits, the firm will produce at point ________ on the new demand curve and lower price to ________
A) E1; P1 B) E0; P0 C) E2; P2 D) E0 or E1; P0
The MRP of capital is defined as the
a. output produced by employing one more dollar of loanable funds b. total cost attributed to employing one more unit of physical equipment c. contribution of capital to the production of the good d. change in capital required to produce one more unit of output e. change in total revenue that results from adding an additional dollar of loanable funds to production
Which of the following factors is not part of an individual's stock of human capital?
A. Initiative B. Intelligence C. Years of education D. Employment status
Which of the following statements is true?
A. Deflation is an increase in the general level of prices. B. The consumer price index (CPI) measures changes in the average prices of consumer goods and services. C. The real interest rate equals the nominal rate of interest plus the inflation rate. D. Real income is the actual number of dollars received over a period of time.