Tastes for products such as beer differ. As a result
A) consumers of beer have difficulty deciding what type of imported beer to buy.
B) the quality of imported beer is less than it could be.
C) we see countries specializing completely in the production of beer.
D) different countries may each have a comparative advantage in producing different types of beer.
D
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La Bella Pizza is the only pizza place on Pepper Island. The figure above shows La Bella Pizza's demand curve, marginal revenue curve, and marginal cost curve. At La Bella Pizza's profit-maximizing output, its annual total revenue is
A) $168,000. B) $312,000. C) $336,000. D) $624,000.
The most popular floating rate in swaps is
A) LIBOR. B) the Treasury note rate. C) the prime rate. D) the six-month Treasury bill rate.
The cost of waiting two months for health care to address a debilitating problem in Canada is most accurately described as
A) an explicit cost. B) an accounting cost. C) no real cost. D) an opportunity cost.
Contractionary fiscal policy ... aggregate demand and in the short run ... real GDP
What will be an ideal response?