Refer to the above figure. Which arrows represent items that are NOT measured in dollar terms?
A. Arrows A and B
B. Arrows C and D
C. Arrows A and D
D. Arrows B and C
Answer: D
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Refer to the scenario above. If both the firms are optimizing, which of the following statements is true?
A) Firm B will produce more than Firm A. B) Firm A will produce more than Firm B. C) Both firms will produce the same quantity. D) The quantity produced by both firms will depend on the demand for pens and not the marginal costs.
Adverse selection is a situation in which asymmetric information results in low-quality goods or low-quality consumers being squeezed out of transactions because they are unable to demonstrate their quality.
Answer the following statement true (T) or false (F)
Countries that are unable to produce goods as efficiently as other countries will never be able to trade
a. True b. False Indicate whether the statement is true or false
Which of the following is likely among the most concentrated industries in the United States?
A) printing and publishing B) soft drinks C) tobacco products D) household vacuum cleaners