If a nation during its entire history has borrowed more from the rest of the world than it has lent to the rest of the world, the country is a
A) net borrower.
B) debtor nation.
C) net lender.
D) creditor nation.
B
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From a point within the utilities possibilities frontier,
A) movement to another point within the frontier can only increase one person's utility, but not both people's utility. B) it is possible to find another point within the frontier that generates higher utility for both people. C) it is possible to find another point within the frontier that involves higher output of both goods. D) any move to another point within the frontier will necessarily decrease someone's utility.
According to the graph shown, producer surplus is:
A. the area under the demand curve and above the market price.
B. the area under the supply curve and above the price.
C. the area above the supply curve and below the price.
D. the area above the demand curve and below the price.
Suppose recent and widely circulated medical article reports new benefits of cycling exercise. Simultaneously, the price of the parts needed to make bikes falls. If the change in supply is greater than the change in demand, the price will _________ and the quantity will _________
a. Rise, rise b. Rise, fall c. Fall, rise d. Fall, fall
There are significant barriers to entry in an oligopolistic market
a. True b. False Indicate whether the statement is true or false