Which of the following is assumed to be the most important motivation for producers?
A. The desire to minimize external costs.
B. The desire to minimize social costs above private costs.
C. The desire to maximize social benefits and private revenues at the same time.
D. The desire to maximize economic profits.
Answer: D
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If the exchange rate appreciates, then the
A) quantity of dollars demanded increases. B) demand for dollars decreases. C) quantity of dollars demanded decreases. D) demand for dollars increases. E) supply of dollars decreases.
An increase in Meta's wealth from $3,000 to $6,000 raises her utility from 80 units to 100 units. If she is risk averse, with a wealth of $9,000 her utility might be
A) 99 units. B) 114 units. C) 120 units. D) 126 units.
Why do governments prefer to avoid current account deficits that are too large?
What will be an ideal response?
Daily Output of Russia and Panama?RussiaPanamaGloves 40240Hats120180
Refer to Table 18.1. Panama has a comparative advantage in:
A. hats. B. gloves. C. both hats and gloves. D. neither hats nor gloves.