Benefits from trade would not include
a. the ability of people and nations to specialize.
b. a greater variety of goods and services becoming available.
c. less competition.
d. lower prices.
c
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Refer to the table above. Which of the following statements is true of the monopolist's total revenue?
A) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases. B) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases. C) As the monopolist reduces the price of its product from $9 to $3, its total revenue increases then decreases. D) As the monopolist reduces the price of its product from $9 to $3, its total revenue decreases then increases.
Emma consumes only hot dogs and hamburgers. She is at her consumer equilibrium. Hot dogs and hamburgers have the same marginal utility. Thus
A) her total utility from all the hot dogs eaten must be the same as her total utility from all the hamburgers eaten. B) the price of a hot dog and the price of a hamburger must be the same. C) she must be eating the same number of hot dogs and hamburgers. D) Both answers B and C are correct.
Under a fixed exchange rate regime, if a central bank must intervene to purchase the domestic currency by selling foreign assets, then, like an open market sale, this action ________ the monetary base and the money supply, causing the interest rate
on domestic assets to ________. A) increases; rise B) increases; fall C) reduces; rise D) reduces; fall
Regardless of quantity in long-run equilibrium, the industry price cannot exceed the
A. long-run average cost of supplying that quantity. B. total variable cost of supplying that quantity. C. long-run total cost of supplying that quantity. D. minimum long-run marginal cost of supplying that quantity.