Which of the following is the best example of people engaged in barter?
a. LaVar agrees to swap his comic book for three of Max’s baseball cards.
b. Noreen gives Lucas a homemade cupcake for his birthday instead of a store-bought gift.
c. Stepon uses his debit card to purchase a $30 train ticket.
d. Bill asks for $4,500 for his used car, but when Willis offers $3,800, Bill ends up selling it to him for $4,000 instead.
a. LaVar agrees to swap his comic book for three of Max’s baseball cards.
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When the slope of the total production curve begins to flatten:
A. the marginal product must be decreasing. B. diminishing marginal product must be occurring. C. additional inputs adds less to total production than the inputs added before. D. All of these are true.
Which of the following is Walmart's competitive advantage in Mexico?
A) Walmart purchased all Mexican retail chains and eliminated competitors. B) Walmart is able to transfer its "everyday low prices" concept to Mexico. C) Walmart offers affordable, unique products for niche markets in Mexico. D) Customers prefer to buy from American companies instead of
When input prices adjust slowly, the multiplier is smaller.
Answer the following statement true (T) or false (F)
According to the text, _________ is a good example of positive institutional change and _________ is an example of destructive institutional change in regard to economic and political institutions.
a. Atlanta, Detroit b. China, Zimbabwe c. Mexico, New Zealand d. Indiana, Missouri