Total expenditures can be written as C + I + G + (X ? IM).
Answer the following statement true (T) or false (F)
True
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A fall in the price of wheat fertilizer ________ the equilibrium price of wheat and ________ the equilibrium quantity of wheat
A) raise; increase B) raise; decrease C) lower; increase D) lower; decrease
Refer to the figure above. This country has comparative advantage in good
A) S. B) T. C) Y. D) Z.
If marginal cost exceeds marginal revenue, a profit-maximizing monopolist will:
a. restrict output to increase the price even higher. b. raise price and expand output to increase profit. c. lower price and expand output to increase profit. d. attempt to maintain this position because it is consistent with profit maximization.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.