Calculate the average, for each country of kiwi harvest
What will be an ideal response?
The average for each country of kiwi harvest is: 0.5 ? 100 + 0.5 ? 50 = 75 tons of kiwi fruit. However, note that the inhabitants of the two countries never know in advance whether the next year will bring feast or famine.
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Which of the following was an observable effect of the North American Free Trade Agreement (NAFTA)?
A. Imports of clothing and textiles into the member countries were diverted away from low-cost suppliers in Asia. B. NAFTA led to a substantial decrease in the volume of trade among the three member countries. C. There was massive shift of jobs toward Mexico. D. Low-cost firms in Canadian manufacturing industries were replaced by the high-cost firms.
The level of consumption _____ as the stock of liquid assets in the hands of consumer rises and it ____ as the level of disposable income rises.
A. rises; rises
B. falls; falls
C. rises; falls
D. falls; rises
In a Dutch auction, ________ with each bid
A) the price of the good increases B) the price of the good decreases C) the quantity of the good being offered increases D) the quantity of the good being offered decreases
If demand is unit elastic, a price reduction will
a. increase revenues b. reduce revenues c. reduce quantity demanded d. have no effect on revenues e. increase profits