When economic profit is zero, producers do not have any incentive to deviate from the current line of production
a. True
b. False
Indicate whether the statement is true or false
True
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Refer to the Article Summary. If the 12 nations that are a part of the TPP do agree to these stricter pharmaceutical patent laws as a way to increase intellectual property rights, all of the following would most likely occur except
A) more patents would be issued to pharmaceutical companies. B) pharmaceutical companies would increase investment in the development of more experimental drugs. C) fewer dollars would be spent on the development of new medicines. D) pharmaceutical companies would consider expanding operations to these TPP nations.
A central bank ________ of domestic currency and corresponding ________ of foreign assets in the foreign exchange market leads to an equal decline in its international reserves and the monetary base, everything else held constant
A) sale; purchase B) sale; sale C) purchase; sale D) purchase; purchase
The reason why consumers may not fight back against trade policy, even though they may be the biggest losers from trade, is because it is easier to organize a ______ group of people around a narrow interest versus a ______ group that has diffuse interests.
a. small; small b. large; large c. small; large d. large; large
A consumer's optimal choice is affected by income, prices of goods, and preferences
a. True b. False Indicate whether the statement is true or false