When a firm is a price taker, changes in its sales quantity have ______ effect on the price it can charge.
A. a positive
B. a negative
C. no
D. little
C. no
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The two neighbors of the United States do a lot more trade with the United States than European economies of equal size
A) This contradicts predictions from gravity models. B) This is consistent with predictions from gravity models. C) This is irrelevant to any inferences that may be drawn from gravity models. D) This is because these neighboring countries have exceptionally large GDPs. E) This relates to Belgium's trade record with the U.S.
Which of the following are NOT part of the World Bank?
A) International Development Association B) Federal Reserve Bank of New York C) International Center for Settlement of Investment Disputes D) Multinational Investment Guarantee Agency
A decrease in foreign demand for U.S. exports will ____ the demand for U.S. dollars and cause the U.S. dollar to ____ in value
a. increase; appreciate b. increase; depreciate c. decrease; appreciate d. decrease; depreciate
Elasticities of demand for labor and for the good that is being produced are related because
a. the MRP curves reflect the demand elasticity of the good b. unions try to raise demand elasticities c. monopsonists are always monopolists d. it is a company town e. there is one price for both