Economist Michael Kremer found that world growth rates fell as population increased
a. True
b. False
Indicate whether the statement is true or false
False
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John can make pizza at a lower opportunity cost than Allen, but Allen can make more pizzas per day than John. Therefore,
A) John has an absolute advantage in pizza. B) Allen cannot benefit from trade with John. C) John has a comparative advantage in pizza. D) John cannot benefit from trade with Allen. E) Allen has a comparative advantage in pizza.
What is the difference between a normal profit and an economic profit?
What will be an ideal response?
In the demand equation log(Q) = a - b log(P) + b2 log(P2) + c log(I), where P is the price of the good in question, P2 is the price of a second good and I
is income, the second good must be: A. a complement for the good in question. B. a normal good. C. an inferior good. D. a substitute for the good in question.
Which of the following is correct?
A. Vertical mergers are more likely to be acceptable under antitrust laws than are horizontal mergers. B. A vertical merger entails the merging of two or more competing firms. C. Horizontal mergers are more likely to be acceptable under antitrust laws than are vertical mergers. D. Conglomerate mergers occur when two or more firms at various stages in a good's production are combined.