When Italy buys Boeing jets, the price Italy pays is ________ if it produced its own jets and the price Boeing receives is ________ than it could receive from an additional U.S. buyer
A) lower than; lower
B) higher than; higher
C) lower than; higher
D) higher than; lower
E) the same as; higher
C
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Which nation achieved the ideal communist society as described by Marx?
If the current quantity demanded of John Deere tractors is 50,000 tractors, and the quantity supplied is 75,000 tractors, then
A) there is a shortage of 25,000 tractors. B) there is a surplus of 25,000 tractors. C) there is a shortage of 125,000 tractors. D) there is a surplus of 125,00 tractors.
Suppose that Tom bought a bike from Helen for $195. If Helen's reservation price was $185, and Tom's reservation price was $215, the buyer's surplus from this transaction was:
A. $20 B. $195 C. $215 D. $10
Which of the following are least likely to be complements?
A. Peanut butter and jelly. B. Sports coats and dress slacks. C. Cars and trucks. D. Bread and butter.