What is autarky?
What will be an ideal response?
Autarky is a situation in which a country does not trade with other countries.
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Sue owns a baking company. The company's total revenue for a month is $4000. The monthly costs of resources bought in the market and of resources owned by the firm are $2000 and monthly costs of resources supplied by the owner are $1000
Sue's economic profit for the month is equal to A) $4000. B) $3000. C) $2000. D) $1000.
Marginal physical product of labor is
a. total output divided by total labor employed b. total labor employed divided by total output c. change in total output divided by the change in labor employed d. change in labor employed divided by the change in total output e. total revenue divided by total output
Jim has the following assets and liabilities:Credit card balance$2,000Cash$500Government bonds$2,000Stock$5,000Checking$750Car loan balance$5,000Car$15,000 Which of the following actions would decrease Jim's money demand by $200?
A. Jim sells $200 worth of stocks and puts the proceeds in his checking account. B. Jim writes a check for $200 to pay down his credit card balance. C. Jim writes a $200 check for cash and holds the cash. D. Jim sells a $200 government bond and puts the proceeds in his checking account.
Using the information in the table, develop the four-firm concentration ratio. Would you classify this industry as an oligopoly? Explain your answer
What will be an ideal response?