In an open economy, how many TVs will this country import?
A. 30,000
B. 90,000
C. 60,000
D. 120,000
Answer: C
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The demand curve for a normal good shifts leftward if income ________ or the expected future price ________
A) decreases; falls B) decreases; rises C) increases; falls D) increases; rises
Assume you are a critic of welfare reforms that impose a time limit on the number of years a person is eligible for welfare benefits. What is the foundation of your critique?
A dominated strategy
A) may be part of a Nash equilibrium. B) is never played. C) can be a best response. D) is always part of a mixed-strategy Nash equilibrium.
Refer to the information provided in Table 20.3 below to answer the question(s) that follow. Table 20.3
Refer to Table 20.3. Trade will flow in both directions between countries only if the price of the euro is between
A. $1.00 and $2.25. B. $.40 and $.50. C. $.44 and $1.00. D. $.60 and $.75.