The selling of a good or service abroad at a price below what is charged in the home market or below the cost of production is referred to as
A. dumping.
B. recycling.
C. a tariff.
D. a quota.
Answer: A
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A perfectly competitive firm is producing 50 units of output and selling at the market price of $23. The firm's average total cost is $20. What is the firm's economic profit?
A) $23 B) $150 C) $1,000 D) $1,150 E) $50
One of the negative consequences of unemployment is a(n): a. loss of human capital
b. loss of physical capital. c. increase in aggregate demand. d. increase in inflation.
The production possibilities curve:
A. shows all of those levels of production that are consistent with a stable price level. B. indicates that any combination of goods lying outside the curve is economically inefficient. C. is a frontier between all combinations of two goods that can be produced and those combinations that cannot be produced. D. shows all of those combinations of two goods that are most preferred by society.
Microfinance is aimed at encouraging entrepreneurs among the very poorest parts of the developing world to relocate to high-income countries.
Answer the following statement true (T) or false (F)