In 2009, the return on American investments abroad was _____ the return earned by foreigners on their investments in the U.S.
A. larger than
B. about equal to
C. smaller than
A. larger than
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If one person's consumption of a good does not preclude another's consumption, the good is said to be
A. excludable. B. rival in consumption. C. nonrival in consumption. D. nonexcludable.
John started going for soccer matches after moving in with a roommate who is a huge fan of soccer. This is an example of a(n) ________
A) moral hazard B) adverse selection C) peer effect D) pecuniary externality
The comparative advantage of the South was in
(a) small farms producing for the local market. (b) plantation agriculture producing for export. (c) manufacturing. (d) shipbuilding and trades related to shipbuilding.
The long-run equilibrium of monopolistic competition is characterized by
A) P = MC = ATC. B) P = MC > ATC. C) P = MR = MC. D) P = ATC > MC.