A nation with cheap, efficient communications is likely to be...
What will be an ideal response?
richer, ceteris paribus, because transaction costs will be lower and trade greater
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Refer to Figure 18-6. If area X = 2,060, area Y = 240, and area Z= 2,700, calculate the Gini coefficient for Syldavia
A) 0.05 B) 0.12 C) 0.46 D) 0.85
The aggregate demand curve shows the alternative combinations of the price level and real income that result in simultaneous equilibrium in both the goods and money markets
Indicate whether the statement is true or false
A characteristic of outsourcing is
a. completely unrelated to vertical integration b. likely to be profitable exactly when vertical integration is unprofitable c. it prevents a firm from focusing on its core competencies d. it prevents the exploitation of differing degrees of economies of scale at different points in the supply chain
If sellers do not adjust their quantities supplied at all in response to a change in price,
a. advances in technology must be prevalent. b. the time period under consideration must be very long. c. supply is perfectly elastic. d. supply is perfectly inelastic.