International trade
A) accounts for more than 90 percent of world economic activity.
B) is a relatively small (about 30 percent of world output) but growing part of world economic activity.
C) has been growing at about the same rate as the world economy.
D) Both A and C.
B
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The flatter the slope of the supply curve the lower will be the price elasticity of supply
Indicate whether the statement is true or false
The first bankers were
A) sheriffs. B) goldsmiths. C) clergy. D) innkeepers. E) economists.
A bank owns a 10-story office building. In the bank's balance sheet, this would be an example of:
A. a checkable deposit. B. a liability. C. an asset. D. capital stock.
You would be inclined to bid on a good at an auction if
a. its MU/P was higher than those for other goods you consume b. its MU/P was lower than those for other goods you consume c. the consumer surplus was less than its price d. the consumer surplus was greater than the marginal utility from consuming the good e. the marginal utility was higher than its price