Which of the following sectors in the economy accounted for about 70% of the spending in the U.S. during 2009?
a. The government
b. Firms
c. The foreign sector
d. Investors
e. Households
e
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The Ironman Hawaii randomly draws a few hundred slots from thousands of applicants for the race
The method of allocation for the opportunity to participate in the race is ________, and the method of allocation for determining the winner of the race is ________. A) lottery; contest B) contest; lottery C) first-come, first-served; lottery D) lottery; first-come, first-served E) contest; command
Suppose that the DeBeers company faces very little competition from other firms in the wholesale diamond market. Why isn't the price of wholesale diamonds $10,000 per carat?
a. because the government would not allow such a high price b. because stockholders would not allow such a high price c. because the company would sell so few diamonds that it would earn higher profits by selling at a lower price d. All of the above are correct.
Scientific investigations that have no immediately obvious commercial applications are called
A. nonessential research. B. basic research. C. applied research. D. diffused research.
International trade under these conditions
Suppose Canada can produce either 120 units of goods, 80 units of services, or any linear combination thereof. Mexico can produce 90 units of goods, 50 units of services, or any linear combination thereof. a) cannot benefit either country b) can only benefit Mexico c) can only benefit Canada d) can benefit both countries if Canada exports goods and imports services e) can benefit both countries if Canada exports services and imports goods