Angelo's Pizza is famous for its secret tomato sauce. The managers of Angelo's Pizza are more likely to produce all of their inputs rather than buy them due to ________.
A) communication costs
B) transportation costs
C) economies of scale
D) trade secrets
D) trade secrets
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In which phase of the business cycle will the economy most likely experience rising real output and falling unemployment rates?
A. recession B. expansion C. trough D. peak
A major reason why it is difficult to lower the barriers to free trade is
A) that total benefits are less than total costs from free trade. B) the uneven distribution of gains and losses from free trade. C) the loss of jobs without any gain of jobs from free trade. D) the inability to compensate losers from free trade. E) that the barriers allow us to compete with cheap foreign labor.
Which of the following is likely to decrease the supply of U.S. dollars in the forex market?
A. If foreign interest rates are low relative to U.S. interest rates B. If investors' confidence in foreign economies increases C. If U.S. consumers prefer foreign goods to U.S. goods D. All of these will increase the supply of U.S. dollars.
A monopolist's profits with price discrimination will be
a. lower than if the firm charged a single, profit-maximizing price b. the same as if the firm charged a single, profit-maximizing price. c. higher than if the firm charged just one price because the firm will capture more consumer surplus. d. higher than if the firm charged a single price because the costs of selling the good will be lower.