For ________, there is a range of exchange rates that can lead automatically to both countries realizing the gains from specialization and comparative advantage.
A. only democratic countries
B. very few countries
C. only industrialized countries
D. any pair of countries
Answer: D
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A bowed out PPF reflects which of the following ideas?
i. Increasing opportunity cost ii. Resources are not equally productive in all activities. iii. Prices of goods increase over time. A) i only B) i and ii C) i and iii D) ii and iii E) i, ii, and iii
If a monopoly is producing an amount of output level at which marginal revenue exceeds marginal cost, in order to increase its profit the monopoly will ________ its price and ________ its output
A) raise; decrease B) lower; increase C) lower; decrease D) raise; increase
Which of the following statements contains accurate information regarding power sources for manufacturing in the first half of the 19th century?
a. Steam engines were very costly to operate. b. The water turbine was more efficient than the water wheel. c. Coal was adopted more slowly in the U.S. than in England. d. Along the Ohio River, steam was preferable to water power because of variable stream levels. e. All of above.
An acquisition will not be profitable
a. In any circumstances b. As long as you paid lower than the company's discounted future profits c. Without a synergy that makes the company more valuable to you than to the current owner d. None of the above