All these increase differentiation, except
a. Product branding
b. Reducing quality
c. Advertising
d. Limiting availability
b
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As a country that has a bowed-out production possibilities frontier produces more of one good, the opportunity cost of a unit of that good ________
A) might increase or decrease B) remains the same C) increases D) decreases
Which of the following is associated with a more elastic demand curve?
a. availability of many close substitutes b. a greater amount of time for consumers to respond to a price change c. a large percentage of income spent on the good in question d. all of the above
When a country allows trade and becomes an importer of a good,
a. consumer surplus and producer surplus both increase. b. consumer surplus and producer surplus both decrease. c. consumer surplus increases and producer surplus decreases. d. consumer surplus decreases and producer surplus increases.
A data set is called an unbalanced panel if it has missing years for at least some cross-sectional units in the sample.
Answer the following statement true (T) or false (F)