Refer to the table above. What is the total revenue of the monopolist when it charges a price of $9?
A) $1,250
B) $1,350
C) $1,750
D) $2,250
B
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The most volatile type of capital flow is
a. direct investment b. long-term bank lending c. stock market purchases d. short-term bonds e. none of the above is very volatile
According to the Law of One Price, if two countries produce an identical good, assuming transportation costs and trade barriers are not an issue ________
A) the value of the currency in both countries should rise B) the value of the currency in both countries should fall C) the price of the good should be the same in the two countries D) the value of the currency in one country will rise by the same amount that the value of the currency in the other country falls
When markets fail, public policy can
a. do nothing to improve the situation. b. potentially remedy the problem and increase economic efficiency. c. always remedy the problem and increase economic efficiency. d. in theory, remedy the problem, but in practice, public policy has proven to be ineffective.
An increase in a country's population may contribute to the rate of technological progress because a larger population
a. forces the capital stock to be spread more thinly. b. forces natural resources to be spread more thinly. c. brings with it more scientists, inventors, and engineers. d. brings with it more favorable recognition from other countries.