Which of the following can be considered as a cultural barrier to trade?
a. Prohibition on Zimbabwean aircrafts from flying over or landing in Canada
b. Restriction on the export of luxury goods to the Democratic Peoples Republic of Korea from Canada
c. An arms embargo imposed on China by the U.K. government
d. Japanese law requiring a new retail firm to receive permission from other retailers in the area in order to open a business
e. Restriction on the export of strategic goods to Ghana imposed by the government of U.K
d
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Refer to the above figure. Which of the following would allow society to move to point d?
A) producing efficiently B) concentrating production in wheat C) increasing the quantity of labor D) using the best land to produce wheat and the lower quality land to produce beans
Average costs curves initially fall
a. Due to declining average fixed costs b. Due to rising average fixed costs c. Due to declining marginal costs d. Due to rising marginal costs
Price discrimination can be practiced only if products can be resold
a. True b. False Indicate whether the statement is true or false
Assume that Laura will get $500 from her parents when she graduates from college one year from today. If the market interest rate is 8 percent, then what is the present value of that $500?
a. $359.12 b. $428.67 c. $462.96 d. $483.11