Trade between countries should be
A) encouraged for developed countries but not for developing countries.
B) encouraged for both developed and developing countries.
C) discouraged for developed countries but encouraged for developing countries.
D) discouraged for both developed and developing countries.
B
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Military force is most effective _____
a. when a country's army has superior numbers b. when a country's navy is superior c. if it causes the other side to back down d. if it causes the other side to waste resources
Which of the following types of unemployment is likely to exist in an economy that is at its potential output level?
a. Cyclical unemployment only b. Structural unemployment only c. Frictional, cyclical, and seasonal unemployment only d. Frictional, seasonal, and structural unemployment only e. Seasonal unemployment only
People interpret evidence to confirm beliefs they already hold. This statement is an example of which of the following systematic mistakes that people make?
a. people are overconfident b. people give too much weight to a small number of vivid observations c. people are reluctant to change their minds d. All of the above are correct.
Suppose Island Bikes, a profit-maximizing firm, is the only bike rental company in a small resort town. The marginal cost to Island Bikes of renting out a bike is $3, and Island Bikes has no fixed costs. Each day Island Bikes has six potential customers, whose reservations prices are listed below.CustomerReservation Price($/Rental)A22B16C12D8E6F4 If Island Bikes charges a single price to all of its customers, then what price will it charge?
A. $4 B. $12 C. $8 D. $16