The benefit valuations for a product are gut feelings that occur:
A. after marginal thought.
B. instantaneously.
C. after careful thought.
D. after conscious weight is given to the cost of the product.
Answer: B
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Given the information in the table above, if the Home economy suffered a meltdown, and the Unit Labor Requirements doubled to 20 for cloth and 40 for widgets then home should
A) export cloth. B) export widgets. C) export both and import nothing. D) export and import nothing. E) export widgets and import cloth.
Sterilization occurs when a central bank offsets the effects of expansionary monetary policy through foreign exchange market intervention
a. True b. False Indicate whether the statement is true or false
Which of the following statements is true? a. Demand refers to how much of a good a consumer is willing to purchase at all prices
b. Demand refers to how much of a good a consumer is able to purchase at all prices. c. Demand refers to how much of a good a consumer is able to consume during a given period of time. d. Demand refers to how much of a good a consumer is willing and able to purchase at all prices.
The principle that "trade can make everyone better off" applies to interactions and trade between
a. families. b. states within the United States. c. nations. d. All of the above are correct.