If the two countries are at points A and B in Figure 35.1 and do not trade, what is the total number of motorcycles produced per year?
A. 2,000.
B. 3,000.
C. 4,000.
D. 1,000.
Answer: B
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What will be an ideal response?
Describe the broad facts about what, how, and for whom goods and services are produced
What will be an ideal response?
Microeconomics is the study of
a. marginal or inferior products b. the economic behavior of individual decision makers c. the behavior of the economy as a whole d. how to use the fewest natural resources to produce goods and services e. government's role as a producer in the economy
In a game of bargaining, the player who is willing to:
A. make the first move has more bargaining power and so receives a better payoff. B. hold out longer has more bargaining power and so receives a better payoff. C. be cooperative has more bargaining power and so receives a worse payoff. D. hold out longer has more bargaining power and so receives a worse payoff.