When a country both exports and imports a type of commodity, the country is engaged in
A) intra-industry trade.
B) increasing returns to scale.
C) imperfect competition.
D) inter-industry trade.
E) an attempt to monopolize the relevant industry.
A
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If Microsoft sells a bond in London and it is denominated in dollars, the bond is a
A) Eurobond. B) foreign bond. C) British bond. D) currency bond.
If the current price level was such that the aggregate quantity demanded exceeded the aggregate quantity supplied, we would expect:
A. inflation to occur. B. the aggregate demand curve to shift rightward. C. the aggregate demand curve to shift leftward. D. the aggregate supply curve to shift leftward.
The price at which the quantity demanded is zero is called the
a. Choke price b. Reserve price c. Exponential price d. Extraction price e. User price
Use the following general linear supply function:Qs = 40 + 6P - 8PI + 10F where Qs is the quantity supplied of the good, P is the price of the good, PI is the price of an input, and F is the number of firms producing the good. When PI = $40 and F = 50, the INVERSE supply function is
A. P = -36.667 + 0.1667Qs. B. P = 220 + 0.1667Qs. C. P = 220 + 6Qs. D. P = -220 + 6Qs.