Refer to the following graph.
The maximum amount of good A can be consumed in this economy without trade is
A. Q units.
B. F units.
C. P units.
D. G units.
Answer: A
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In the long run, a firm can vary
A) its capital but not its labor. B) its labor but not its capital. C) both its labor and its capital. D) neither its labor nor its capital.
If a firm has a tying agreement with a distributor which substantially lessens competition, then it is likely to be in violation of the:
a. Clayton Act. b. Robinson-Patman Act. c. Sherman Antitrust Act. d. Federal Trade Commission Act. e. Interstate Commerce Act.
Exhibit 21-7 Foreign exchange market for U.S. dollars and British pounds
?
Which of the following could cause the dollar-pound exchange rates to change as shown in Exhibit 21-7?
A. American goods become more popular in Great Britain. B. British incomes rise, while U.S. incomes remain unchanged. C. The U.S. price level rises, while the British price level remains unchanged. D. The U.S. real interest rate rises, while the British real interest rate remains unchanged.
Refer to the below table. Which of the following is true?
Answer the question based on the following payoff matrix for a duopoly in which the numbers indicate the profit from following either an international strategy or a national strategy.
A. The international strategy is the dominant strategy for both firms
B. The national strategy is the dominant strategy for both firms
C. The international strategy is the dominant strategy for firm A and the national strategy is the dominant strategy for firm B
D. The national strategy is the dominant strategy for firm A and the international strategy is the dominant strategy for firm B