Which of the following is the best example of a differentiated product?
A) beets in the local supermarket
B) diamonds
C) airlines
D) running shoes
E) electricity
D
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The world price of a commodity will settle at the level where
a. supply and demand are equal within each country. b. the excess demand of the importing country is equal to the excess supply of the exporting country. c. the excess demand in the exporting country is equal to the excess demand in the importing country. d. there is no excess demand in the exporting country.
One theory that predicts sustained wage and rent differentials is based on the idea that your accumulation of human capital raises the productivity of the other workers and the physical capital in your locale. In this situation, human capital accumulation creates
a. a signaling equilibrium. b. external benefits. c. compensating differentials. d. intertemporal substitutions.
Of the stimulus package proposed by the Bush Administration in 2008,
A. the tax rebates were adopted while, the extension of temporary tax cuts was rejected. B. none of the proposed components of the package were actually implemented. C. all of the proposed components of the package were quickly implemented. D. the tax rebates were rejected while, the extension of temporary tax cuts was adopted.
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?
Table 5.4 presents the cost schedule for David's Figs. If David produces two figs, David's average variable costs are:
A. $80. B. $85. C. $90. D. $170.