Which of the following countries has the lowest level of average educational attainment?
a. Canada
b. Italy
c. India
d. Sudan
d
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Which of the following is consistent with the circular flow of income?
I. Goods and services flow in one direction. II. Payments and incomes flow in one direction. III. Sellers receive less than what buyers spend. A) I only B) II only C) III only D) Both I and II
Under perfect price discrimination, consumer surplus
A) is less than zero. B) is greater than zero. C) equals zero. D) is maximized.
Game theory would classify a cartel under the topic of
A) zero-sum games. B) cooperative games. C) noncooperative games. D) dominant-strategy games.
As long as marginal cost is below average cost, average cost will be
a. falling b. rising. c. constant. d. changing in a direction that cannot be determined without more information