If a customs union leads to a large amount of trade diversion relative to trade creation, it may be beneficial to world welfare
Indicate whether the statement is true or false
FALSE
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Nearly a quarter of China's 1.3 billion people are under the age of 15. How will this affect high school enrollment over the next fifteen years? The labor market over the next fifteen years?
What will be an ideal response?
The growth over time in the spread between price and marginal cost of an exhaustible resource is equal to
A) zero. B) one. C) the interest rate. D) the present value of the reserves.
Most games are ______ games in which each firm sets its own ______ without consulting other firms.
a. non-cooperative; binding contract b. cooperative; binding contract c. cooperative; price d. non-cooperative; price
Ceteris paribus, or "all other things held constant", is an assumption that had which of the following effects on a demand schedule?
a) It takes only prices into account b) It considers the effects of all possible changes on demand c) It is accurate no matter what changes occur d) It is accurate at only one price level