A strike at the Financial News in London shut down its production, and the sales of a competing newspaper, the Broad Street Journal, increased dramatically, with no increase in price. Based upon this, what can you say about the Broad Street Journal’s supply curve?
A. Its supply curve is vertical.
B. Its supply curve is horizontal.
C. Its supply curve has shifted.
D. Its supply curve has a positive slope.
Answer: B
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According to the text, approximately what percentage of U.S. net public debt is held by foreign residents?
A) 50% B) 20% C) 90% D) 800%
The law of comparative advantage states that the person who should produce a good is the person who
a. has the lowest opportunity cost of producing that good b. can produce that good using the fewest resources c. will produce that good using the most expensive resources d. has the most desire for that good e. has produced that good in the past
When Mexico suffered from capital flight in 1994, Mexico's real interest rate
a. fell and the peso appreciated. b. fell and the peso depreciated. c. rose and the peso appreciated. d. rose and the peso depreciated.
Answer the question based on the table below.PriceQuantityTFCTVC$55$25$10510252051525505202560At what point on the table would a purely competitive firm cover all of its costs and earn only normal profits?
A. Q = 5 B. Q = 10 C. Q = 20 D. Q = 15