Most t-shirts bought by Americans are made in Asia. Producers in Asia making t-shirts trade with America because they
A) cannot produce enough t-shirts for their own domestic consumption.
B) receive a higher price than they would receive from another buyer.
C) cannot lower their price any lower and still make a profit.
D) must export something to the United States.
E) receive a lower price than they would receive from another buyer.
B
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In the above figure, what is the total tax revenue collected by the government?
A) $20 million B) $40 million C) $200 million D) $400 million
Nations such as Egypt and Turkey may have wide differences between GNP and GDP because both the countries
A) have a high level of imports and exports relative to GNP. B) have a large portion of their GNP produced by multinational corporations. C) have a large number of citizens working abroad. D) purchase large amounts of military wares from other countries.
The owner of a railroad that carries cargo should ________ supply when she foresees regulations that will ________ the cost of shipping cargo by truck
A) decrease; increase B) decrease; leave unchanged C) increase; increase D) leave unchanged; increase
Repetition of a game
A) yields the same outcome, over and over. B) can result in behavior that is different from what it would be if the game were played only once. C) is not possible. D) makes cooperative games into non-cooperative games. E) is possible only if the payoffs in the matrix change.