Which of the following refers to dumping?
A. Restricting the sale of domestic goods within the geographic boundary of the country.
B. Selling domestic goods in the international market at much lower prices.
C. Selling domestic goods of inferior quality in the international markets at higher prices.
D. Selling domestic goods at discounted prices to local consumers and selling the same at much higher prices to foreign consumers.
Answer: B
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Someone who owns stock in a drug company that suddenly and unexpectedly reveals it has found an effective vaccine against AIDS will make a profit on the stock
A) at once. B) only if she hangs on to the stock for a number of years. C) only if she sells the stock. D) only when the dividends actually start to increase. E) when total revenue exceeds all costs, including research and development costs.
The quantity of tickets demanded to the Super Bowl is always greater than the quantity supplied
Which of the following in the best explanation why the National Football League does not raise the price of tickets to the level where the quantity demanded equals the quantity supplied? A) The cost of raising the price and printing new tickets would exceed the revenue the NFL would receive from higher ticket prices. B) Raising the price would reduce the demand for tickets; there would then be a surplus and the game would not sell out. C) The demand for Super Bowl tickets is elastic; raising the price would reduce total revenue. D) The NFL is concerned that raising ticket prices would be considered unfair.
The long-run aggregate supply curve is:
A. vertical. B. horizontal. C. downsloping. D. upsloping.
If the price elasticity of demand for good A is -4, then a 2% increase in
A. consumer income will result in a 2% decrease in the demand for good A. B. the market price of good A will result in a 8% increase in the quantity demanded of good A. C. consumer income will result in a 2% increase in the demand for good A. D. the market price of good A will result in a 8% decrease in the quantity demanded of good A.