Refer to Figure 18.2. After trade and specialization begin, the maximum amount of spears that Macadamia can consume is
A) 40. B) 100. C) 120. D) 160.
D
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Which of the following increases the supply of gasoline?
A) a situation where the quantity of gasoline demanded exceeds the quantity supplied B) an increase in the price of gasoline C) a decrease in the price of a resource used to produce gasoline, such as crude oil D) a decrease in the demand for gas-guzzling, sport utility vehicles E) an increase in income if gas-guzzling, sport utility vehicles are a normal good
If a new seller enters a market to compete with an existing natural monopoly, it will:
A) decrease the costs for both the sellers. B) increase the costs of production for both the sellers. C) increase the production costs for the existing seller, and a decrease in the costs for the new entrant. D) decrease the production costs for the existing seller, and an increase in the costs for the new entrant.
Suppose a used car dealer can earn an additional $25,000 in revenue per year by increasing advertising on a local radio station from 3 times a day to 5 times a day
At what additional cost would this increase in advertising not be considered economically rational?
If the dollar appreciates, American consumers will buy more foreign goods and services
a. True b. False Indicate whether the statement is true or false