Canada is said to have an absolute advantage vis-à-vis the U.S. in the production of cod because it can produce cod
a. in larger quantities
b. while the U.S. can't
c. at a lower opportunity cost
d. with fewer resources
e. at a higher opportunity cost
D
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Pricing can be
A) in the form of a markup. B) can be based on peak loads. C) a barrier to entry. D) all of these choices.
A negative externality is the same thing as an external cost
Indicate whether the statement is true or false
As part of the nation's recovery from the Great Depression of the 1930s, the banking system was reformed in which of the following ways?
(A) The banking system was taken off the gold standard. (B) The government paid off loans for large corporations. (C) Banks were deregulated by the government. (D) The Federal Reserve Banks were closed.
A temporary decrease in the price of oil would be considered a:
A. long-run supply shock. B. demand shock. C. short-run supply shock. D. The changing price of oil would not affect any of these.