At what price level does equilibrium occur in Figure 8.4?
A. P1.
B. P2.
C. P3.
D. P4.
Answer: B
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Currently Belize, a country in Central America, has a small coffee industry but does not export any coffee
Suppose the government of Belize, in order to protect the new coffee industry to enable it to grow into a mature industry that can compete in world markets, places a tariff on the importation of coffee. What is the argument that has been used to support the tariff on coffee? A) the infant-industry argument B) the dumping argument C) protection of Belize coffee workers D) to prevent rich countries from exploiting developing countries
Refer to Figure 21-5. "Crowding out" of firm investment as a result of a budget deficit is illustrated by the movement from ________ in the graph above
A) A to B B) C to A C) B to A D) B to C
Figure 8.8 shows demand, marginal revenue, and costs of an individual duopolist. If the two duopolists have the same costs and split the market equally, each profit-maximizing duopolist will produce and sell a quantity of ________.
A. 1,000 units B. 500 units C. 250 units D. 125 units
Assume that all workers are equally productive, but the wage rate for men is $12 compared to $9 for women. An employer who employs only male workers must have a discrimination coefficient of:
A. more than $3. B. at most 0.3. C. less than $3. D. 1.33 or less.