The 2017 price level in Great Britain was relatively higher than the price level in the United States. Thus, a U.S. manufacturing facility looking to buy coal for its plant would most likely buy coal at home in the United States.
Answer the following statement true (T) or false (F)
True
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When a firm with market power practices third-degree price discrimination, it charges the highest price to the group that
a. has the most elastic demand. b. has the most inelastic demand. c. purchases the highest quantity. d. purchases the lowest quantity.
Refer to the scenario above. Which of the following will happen if she sells it for $200, and the total cost incurred by her in making the dress was $150?
A) GDP will increase by $50. B) GDP will increase by $180. C) Trade surplus will increase by $200. D) GDP will remain unchanged. Sarah takes care of her son instead of sending him to a day care which charges $12,000 annually.
Goods market equilibrium in the open economy occurs when
A) desired saving equals desired investment. B) output equals desired consumption plus desired investment plus government spending. C) desired consumption equals desired investment. D) desired saving minus desired investment equals net exports.
According to Douglass North (1981, 1993), to knowledgeably understand our present economy or to strategically speculate about its future, it is important to "explain the structure and performance of economies through time."
Indicate whether the statement is true or false