Which of the following statements about trade is false?
a. Trade increases competition.
b. With trade, one country wins and one country loses.
c. Bulgaria can benefit, potentially, from trade with any other country.
d. Trade allows people to buy a greater variety of goods and services at lower cost.
b
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Applying Coase's theorem, if the cost to you from having the airplane seat in front of you reclined is ________ the benefit to the reclining passenger, you should ________
A) greater than; request a payment from the reclining passenger B) less than; request a payment from the reclining passenger C) greater than; make a payment to the reclining passenger D) less than; make a payment to the reclining passenger
Fixed costs are:
A. costs that depend on the quantity of output produced. B. costs that don't depend on the quantity of output produced. C. inputs costs that stay the same price per unit. D. costs that are negotiated to stay the same throughout the life of a contract.
The sum of the coins and currencies in the bank's vault and its deposit in the Fed is called:
a. vault cash. b. transaction deposits. c. legal reserves. d. required reserves. e. loanable funds.
In which of the following games is it clearly the case that the cooperative outcome of the game is good for the two players and good for society?
a. Two guilty criminals have been captured by the police, and each prisoner decides whether to confess or to remain silent. b. Two airlines dominate air travel between City A and City B, and each airline decides whether to charge a "high" airfare or a "low" airfare. c. Two duopoly firms account for all of the production in a market, and each firm decides whether to produce a "high" amount of output or a "low" amount of output. d. Two oil companies own adjacent oil fields over a common pool of oil, and each company decides whether to drill one well or two wells.