Examining the equilibrium conditions of individual markets and for households and firms separately is referred to as
A. efficiency analysis.
B. general equilibrium analysis.
C. comparative statics.
D. partial equilibrium analysis.
Answer: D
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When compared with China, the growth of clothing exports originating in Bangladesh clearly illustrates the Ricardian model of comparative advantage. Discuss and explain
What will be an ideal response?
Slaves were expensive factors of production in comparison to free labor. Which of the following was not a cost to slave labor?
(a) Food (b) Clothing (c) Wages (d) Medical care
Consumer's surplus can be written as
a. total expenditure ? total utility. b. total utility ? total expenditure. c. marginal utility ? marginal expenditure. d. marginal expenditure ? marginal utility.
If P were 6, V were 10, and Q were 2,000, how much is M?
What will be an ideal response?