"Hicks' Third Law of Demand" states that "most" goods must be:
a. gross substitutes.
b. gross complements.
c. net substitutes.
d. net complements.
c
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The Wii is a wildly popular home video game console released by Nintendo. The Wii system was first available in the U.S. in November, 2006 and has sold more than 30 million units as of August 2010. The Wii retails for $199
Suppose Ahmed is willing to pay $230, Lana is willing to pay $175, and Bodie is willing to pay $300 for a Wii. What is the value of Lana's consumer surplus? A) No consumer surplus is generated because Lana will not buy the Wii. B) $249 C) $225 D) $24
Which organization is committed to lowering trade barriers?
a. the United Nations b. the World Bank c. the World Trade Organization d. the International Monetary Fund
Ch 1.The opportunity cost of an action is best defined as which of the following?
What will be an ideal response?
Portfolio investment can generally travel across borders ________ foreign direct investment can.
A. just as quickly as B. more quickly than C. not as quickly as D. None of these statements is true.