Which of the following aspects of global change benefitted people at the higher end of the income scale in the U.S?
A. The increase in U.S. imports from the rest of the world
B. The increase in the level of foreign investment in the U.S.
C. The movement of global capital
D. The fall in global oil prices
Answer: C
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Suppose Maria can make 12 pizzas or 4 lasagnas every Saturday afternoon, while Gina can make 10 pizzas or 2 lasagnas every Saturday afternoon. Which statement is true?
A) Maria is the most efficient producer of both pizza and lasagna. B) Gina is the least efficient producer of both pizza and lasagna. C) It costs Maria 3 pizzas to produce 1 lasagna. D) It costs Gina 5 lasagnas to produce 1 pizza. E) All of the above are true.
A very large number of small sellers who sell identical products imply
A) the inability of one seller to influence price. B) a multitude of vastly different selling prices. C) a downward sloping demand curve for each seller's product. D) chaos in the market.
One of the most famous cartels is OPEC
a. True b. False Indicate whether the statement is true or false
In conducting normative analysis, economists apply
A. the principle of comparative advantage. B. the principle of individual sovereignty. C. the law of one price. D. objective value judgments.