The Montreal Protocol and its subsequent amendments
a. accomplished little in correcting ozone depletion
b. failed to recognize the special problems of developing nations
c. established and implemented phase out schedules for ozone depleters
d. was an international agreement aimed at addressing climate change
c. established and implemented phase out schedules for ozone depleters
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The slope of the consumption function is equal to:
A) the marginal propensity to consume. B) autonomous consumption. C) the marginal propensity to save. D) zero.
OnWheels and Speedstar are the only two manufacturers of sports cars. The cars manufactured by these companies are considered to be close substitutes, but are not identical. How should each firm determine its price in this case?
What will be an ideal response?
If the dollar appreciates:
a. imports to the United States become more expensive for foreigners b. exports from the United States become more expensive for foreigners c. imports become more expensive for U.S. citizens. d. exports from the United States become cheaper e. the dollar will exchange for fewer units of a foreign currency
Which of the following is true under monopoly?
a. Price is equal to marginal revenue. b. Price is equal to marginal cost. c. Price is less than marginal revenue. d. Price is less than marginal cost. e. Price is greater than marginal revenue.