Computers and insurance coverage produced in the United States and sold to people in other nations are categorized as
A) U.S. imports of goods and services.
B) U.S. exports of goods and services.
C) U.S. consumption goods and services.
D) foreign capital goods.
E) U.S. government goods and services.
B
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What is the effect on the equilibrium price and equilibrium quantity of theater tickets if the price of an orchestra ticket increases and the wage rate paid to actorsactors increases?? The equilibrium price of a theater ticket ______ and the equilibrium quantity? ______.
A. always falls ; increases B. always falls; decreases C. rises; increases, decreases, or remains the same D. does not change; does not change E. rises, falls, or remains the same; increases
A supply curve slopes upward because quantity supplied is higher when price is higher.
Answer the following statement true (T) or false (F)
In a perfectly balanced oligopoly (with eight firms, all having the same market share), if any one firm captures 1 percent of the market from one of the others,
a. c and d b. the eight-firm concentration ratio will increase c. the eight-firm concentration ratio will decrease d. the Herfindahl-Hirschman index will rise e. the Herfindahl-Hirschman index will fall
During expansions
a) sales and profits rise. b) sales rise, but profits fall. c) sales fall, but profits rise. d) sales and profits fall.