An overall decline in communication and transportation costs have facilitated global interactions in the twentieth and the twenty first century
a. True
b. False
Indicate whether the statement is true or false
True
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In the long run, a firm in a monopolistically competitive industry has its price equal to its
A) average total cost. B) marginal cost. C) marginal revenue. D) elasticity of demand.
When toilet paper sales increase, quarterly economic growth tends to rise. This is an example of:
A. two variables that are negatively correlated. B. the presence of ceteris paribus. C. correlation without causation. D. causation with no correlation.
Consider a consumer choosing between spending her money on food, F, or clothing, C. Assume that a unit of food and a unit of clothing have the same price, and that the consumer can afford a total of 20 units of either food or clothing. This is an example of:
A. a constrained optimization problem. B. a sunk cost. C. a sinking cost. D. the No Marginal Improvement Principle.
Dumping refers to a country
A) imposing a retaliatory tariff against the subsidized products of a foreign country. B) selling a good abroad at a price that is below its cost and lower than the price charged in the domestic market. C) selling a good abroad at a price that is above its cost and higher than the price charged in the domestic market. D) a and c E) all of the above