Four countries, A, B, C, and D, have comparable economies. The average value of the GDP deflator in the last 12 years for Countries A, B, C, and D were 133, 122, 166, and 142, respectively. Among the four countries, which country has the most stable economy?
a. Country A
b. Country B
c. Country C
d. Country D
b
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What was the total revenue generated before the price change?
a. $140
b. $240
c. $560
d. $700
According to the infant-industry argument, protection should be withdrawn from an infant industry when the companies in the industry
A) are listed on the domestic stock exchange. B) become profitable. C) double their sales revenues. D) reach a sufficient size to compete with foreign firms.
Mary Jane is willing to babysit for $6 an hour. Her neighbor has asked her to babysit for $8 an hour. Assuming Mary Jane accepts the offer:
A. her accounting profit will be $8 per hour, and her economic profit will be $0 per hour. B. her economic rent will be $2 per hour. C. her consumer surplus will be $2 per hour. D. her economic profit will be $8 per hour.
Suppose that there are only three consumers of a product. At a price of $6 per unit, the first consumer would buy 12 units of the product, the second consumer would buy 8 units, and the third consumer would buy 3 units of the product
If you drew a market demand curve for this product, the quantity demanded at a price of $6 would be A) 23 units. B) 20 units. C) 12 units. D) 11 units.