A single-price monopolist
a. has absolute control over price.
b. can sell all it desires at a given price.
c. must lower price in order to sell more.
d. always has an elastic demand.
c. must lower price in order to sell more.
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Relative to a closed economy, if Utopia opened itself to trade domestic tile producers would 
A. produce 150 fewer cases of tile. B. produce the same amount of tile. C. produce 100 fewer cases of tile. D. produce 150 more cases of tile.
The sales tax
A) is not consistent with the benefits-received principle because low-income individuals spend less on goods and services than do high-income individuals, yet pay the same sales tax rate. B) is consistent with the benefits-received principle because low-income individuals spend less on goods and services than do high-income people. C) is not consistent with the ability-to-pay principle because low-income individuals tend to spend a larger fraction of their income than do high-income individuals. D) is not consistent with the ability-to-pay principle because low-income individuals tend to purchase a smaller bundle of goods and services compared to high-income individuals.
Provide a definition of development economics. Justify your choice carefully
What will be an ideal response?
Considerable day-to-day volatility in major exchange rates is caused by
A) shifts in tastes or preferences for domestic versus foreign goods. B) international capital mobility and expectations of future exchange rates. C) sudden changes in productivity in one nation versus others. D) highly variable inflation rates in some industrialized countries.