The results of a 2008 Los Angeles Times poll suggest that the percentage of Americans who believe trade is harmful to the economy exceeds the percentage of Americans who believe trade is beneficial to the economy
a. True
b. False
Indicate whether the statement is true or false
True
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In the final two decades of the twentieth century, per capita income in sub-Saharan Africa
A) remained relatively unchanged. B) increased by approximately 35 percent. C) increased by more than 75 percent. D) decreased by approximately 6 percent.
In the figure above, when the market is unregulated and in equilibrium, marginal social cost ________ marginal benefit, and the quantity of chemical produced is ________
A) exceeds; above the efficient quantity B) exceeds; below the efficient quantity C) is below; above the efficient quantity D) is below; below the efficient quantity E) equals; efficient
Game theory would classify a cartel under the topic of
A) zero-sum games. B) cooperative games. C) noncooperative games. D) dominant-strategy games.
One of the reasons that price elasticities of demand are always stated as positive numbers is because:
a. the numerators and denominators of the formula are both negative. b. the numerators and denominators of the formula are both positive. c. price increases always lead to increases in quantity demanded. d. price decreases always lead to decreases in quantity demanded. e. price elasticities are always negative, so we ignore the sign.