The greater the substitutability between Northwest timber and Southeast timber, the ________ is the cross elasticity of demand between timber from the two regions and the ________ is the elasticity of demand for Northwest timber
A) smaller; smaller
B) smaller; larger
C) larger; smaller
D) larger; larger
D
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Solutions to the moral hazard in equity contracts include all of the following EXCEPT
A) government regulations to increase information. B) the use of financial intermediaries. C) the use of debt contracts. D) government ownership of resources.
Which of the following describes the impact of unions on wages?
a. The high wages negotiated by the union drive up wages in the nonunion sector by extension. b. Collective bargaining has the effect of lowering wages in general to keep more people employed. c. By restricting membership, the union drives up union wages and drives down nonunion wages. d. The union has the collective power to enforce equilibrium wages for everyone.
Briefly explain how the price of a patented drug reacts during the patent and after expiration of the patent.
What will be an ideal response?
Recall the Application about rising oil prices and their effect on the U.S. economy to answer the following question(s).According to the Application, why is the U.S. less vulnerable to oil supply shocks today as opposed to the 1970s?
A. The U.S. is now a net exporter of oil products. B. The. U.S. is less dependent on oil as an energy source. C. The U.S. determines the price of oil in world markets. D. Only The U.S. is now a net exporter of oil products and The. U.S. is less dependent on oil as an energy source are correct.