Vertical contracts aim to
a. Incentivize the manufacturers to undertake costly activities, which they may not realize the full benefits of on their own
b. Incentivize the retailers to undertake costly activities, which they may not realize the full benefits of on their own
c. Incentivize the retailer and the manufacturer to undertake activities that reduce profits for the supply chain
d. Both A&B
d
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Refer to Table 9-9
a. Which country has an absolute advantage in the production of both light bulbs and flash drives? b. Which country has a comparative advantage in the production of light bulbs? c. Which country has a comparative advantage in the production of flash drives? Table 9-10 Pens Pencils Tran 40 160 Farah 50 150 Table 9-10 shows the output per week for pens and pencils by Tran and Farah.
An economic model is defined as:
a. a value judgment. b. a presentation of all possible relevant real-world variables. c. a simplified representation of the way in which facts are related. d. data adjusted for irrational actions.
The demand by sterile couples for babies to adopt has grown rapidly, while the supply has dwindled because of improved contraception, liberal abortion laws, and an increase in the probability that unwed mothers will keep their children. It violates the law to sell human beings at any age, but for every twenty legal adoptions there seemingly is one baby sale at a price up to $50,000 . The generic
term economists apply to the market produced by this type of shortage is a. "black market." b. "white slave market." c. "the adoption market." d. "baby market."
The aggregate demand curve
a. slopes upward. b. slopes downward. c. is perfectly vertical. d. is perfectly horizontal.