When spending and incomes in an economy increase,
A) imports are likely to increase.
B) imports are likely to be unchanged.
C) imports are likely to decrease.
D) exports are likely to decrease.
A
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Marginal cost refers to the ________ cost incurred when choosing a particular action
A) total B) net C) implicit D) additional
Suppose a monopolist faces a constant elasticity market demand curve with price elasticity equal to -2. What will be the price charged by this monopolist assuming constant marginal cost of 10.
A. 100 B. 80 C. 50 D. 30 E. 20 F. 10 G. infinity H. None of the above
During the antebellum period, U.S. consumers increased their demand for mass-produced, standardized and simple goods
Indicate whether the statement is true or false
When firms advertise their products, they are attempting to:
a. shift the supply curve of the product to the right. b. shift the supply curve of the product to the left. c. shift the demand for the product to the right. d. shift the demand for the product to the left. e. create a surplus of the product.