Foreign direct investment generally leads to technological advancements in poorer countries
a. True
b. False
Indicate whether the statement is true or false
True
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Voting in accordance with one's true preference is called
A) ballot manipulation. B) strategic voting. C) naive voting. D) the voting paradox.
A monopoly occurs when
A) each of many firms produces a product that is slightly different from that of the other firms. B) one firm sells a good that has no close substitutes and a barrier blocks entry for other firms. C) there are many firms producing the same product. D) a few firms control the market. E) one firm is larger than the many other firms that make an identical product.
Consumer surplus is to buyer well-being as ______is to seller well-being.
a. producer surplus b. market price c. tax rate d. consumer awareness
The vertical distance between a firm's ATC and AVC curves represents:
A. AFC, which increases as output increases. B. AFC, which decreases as output increases. C. marginal costs, which decrease as output decreases. D. marginal costs, which increase as output increases.