For collusion to make sense, the payoff matrix must be a
A. positive-sum game.
B. zero-sum game.
C. negative-sum game.
D. negative-positive-sum game.
Answer: A
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Suppose the quantity of sodas and the quantity of popcorn are on an indifference curve/budget line diagram. An increase in income shifts the budget line ________ and, if popcorn is a normal good, shifts the demand curve for popcorn ________
A) rightward; rightward B) rightward; leftward C) leftward; rightward D) leftward; leftward
In the graph above, which points reflect an interest parity arbitrage opportunity?
A) point A B) point B C) point C D) points B and C
Tijuana, Mexico is across the border from San Diego, California
It has become a world-leading producer and exporter of television sets and computer monitors, which it assembles in modern factories owned by multinational consumer electronics firms such as Sony. Initially, these electronics were produced in the industrialized countries of their parent companies, and after several years, the production moved to Tiajuana. This is an example of A) the product cycle. B) intraindustry trade. C) the specific factors model. D) the magnification effect. E) None of the above.
Define the benefit principle. List two real world taxes that have the features of a tax based on the benefit principle. Why can't the benefit principle be the sole principle of taxation?
What will be an ideal response?