When one country buys more from another country than it sells to the country, it is said to be experiencing:
a. economic dualism.
b. double counting.
c. symmetrical trade.
d. internationalization.
e. bilateral trade deficit.
e
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An economy experiences real growth over time with stable aggregate demand. This would likely result in
A) decreasing prices. B) increased unemployment. C) increasing prices. D) secular inflation.
Workers who pursue an education directly increase their
A) financial capital. B) physical capital. C) human capital. D) saving.
Suppose a restaurant is trying to determine how much to charge for a bowl of chili, and decides to run an experiment to see how much its customers are willing to pay by allowing them to set their own price for this menu item
a. Is charging a customer the price he or she is willing to pay for the bowl of chili an example of price discrimination? Briefly explain. b. What is it called when a firm knows every consumer's willingness to pay, and can charge every consumer a different price? What happens to consumer surplus in this situation?
A single firm in pure competition in the short run has a:
A. vertical demand curve. B. horizontal demand curve. C. horizontal supply curve. D. vertical supply curve.