An economy that does NOT trade with the rest of the world is a(n)
A. open economy
B. trade economy
C. closed economy
D. command economy
Answer: C
You might also like to view...
The above figure shows a firm in monopolistic competition. What is the profit maximizing level of output the firm will produce?
A) 4 units per day B) 8 units per day C) 10 units per day D) 16 units per day
Refer to Figure 17-9. Fed Chairman Paul Volcker's response to high inflation of the late 1970s is depicted in the figure above as a movement from
A) A to D to C. B) C to E to B. C) A to B to C. D) C to B to A. E) C to D to A.
Change in "total factor productivity" may be explained by
A) the relative rates of growth of crime and pollution control measures. B) changes in the quality and composition of the labor force. C) changes in the scale of production. D) All of the above.
If Deluxe Fruits offers a $1.00 coupon for their fruit cups, this is an example of ________.
A) second-degree price discrimination B) first-degree price discrimination C) arbitrage D) market segmentation