If the maximum number of units of cloth produced is 300 and the maximum number of units of corn produced is 600, then with a MPLcloth = 2, what is the MPLcorn?
a. 4
b. 5
c. 6
d. 7
Ans: a. 4
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Suppose Gizmo Inc is willing to sell one gizmo for $10, a second gizmo for $12, a third for $14, and a fourth for $20, and the market price is $20 . What is Gizmo Inc's producer surplus?
a. $56 b. $24 c. $20 d. $10
"Born global" firms are those that step straight onto the world stage, making exporting the primary goal of the firm from day one of operations.
a. true b. false
A central bank is
A. an international bank. B. the same as the government. C. the largest bank in the country. D. a banker's bank.
Shoe leather costs are
A. the costs associated with the confusion of prices as signals. B. the costs of changing prices, such as printing and mailing catalogues. C. the costs of the redistribution of wealth between lenders and borrowers. D. the costs in time and effort incurred by people and firms who are trying to minimize their holdings of cash because of inflation.