Suppose that the country of Pacifica sold its cars in Atlantica for less than it costs to produce the cars. Pacifica could be accused of
A) avoiding import quotas.
B) increasing its gains from trade.
C) dumping.
D) engaging in learning-by-doing.
C
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Some people will often remark that the used car market is a counter-cyclical business,meaning that the fortunes of the business tend to move in the opposite direction of the health of the economy
Why might this be true and what conclusion can you make about what kind of a good used cars would be classified as economically speaking?
How is cross-price elasticity of demand used to determine whether two goods are substitutes or complements?
What will be an ideal response?
If Massage R Us, a spa chain specializing in massage, offers a lower price for a massage to senior citizens, this is an example of ________.
A) second-degree price discrimination B) first-degree price discrimination C) third-degree price discrimination D) zero-degree price discrimination
When voters have different opinions about an issue, the position that is most likely to be adopted is that of the:
A. Lobbyist B. Logroller C. Rent-seeker D. Median voter