Within the range of exchange rates that permits specialization and trade to take place, the exchange rate will determine which country gains the most from trade.
Answer the following statement true (T) or false (F)
True
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Which of the following is NOT associated with the new growth theory?
A) natural resources B) research C) technology D) innovation
When regulators require that a natural monopoly sets price equal to average total cost:
a. it is said to be allowing a fair rate of return. b. the firm earns a super normal profit. c. the firm shuts down permanently. d. the firm operates at the profit-maximizing level of output. e. the firm shuts down temporarily.
Explain the perspective that tougher enforcement of drug laws for cocaine or other drug laws may actually increase the crime rate. Use the concepts of demand, supply, and elasticity in your explanation
Please provide the best answer for the statement.
When consumers shift away from relatively higher price goods and services in favor of those that are less expensive, this is known as the
A) principle of utility. B) principle of substitution. C) principle of supply. D) principle of increasing opportunity costs.