The price elasticity of supply increases as firms have more time to adjust
Indicate whether the statement is true or false
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The currency created by the European Monetary Union, for which notes and coins became available in 2002, is the
A) ECU. B) euro. C) EMU. D) pound.
Marginal utility has a negative slope. This is because of the
a. optimal purchase rule. b. law of increasing costs. c. law of diminishing marginal utility. d. marginal rate of substitution.
Rent seeking
a. often entails large opportunity costs. b. prevents waste of resources. c. often promotes fairness in distribution of resources. d. cannot occur in a planned economy.
Which statement is false?
A. In general, Japanese firms are more concerned with product quality than American firms are. B. There is no one explanation for the rising Japanese trade surplus. C. There is no single remedy for our huge trade imbalance. D. None of these statements are false.