Refer to Table 2-16. If the two countries specialize and trade, who should export lumber?
A) Estonia
B) There is no basis for trade between the two countries.
C) They should both be exporting lumber.
D) Finland
A
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Which of the following makes demand less elastic?
A) the existence of many close substitutes for the good B) spending a large proportion of income on the good C) a short time elapsing since the product's price changed D) All of the above answers are correct.
Which of the following is likely to have the smallest price elasticity of demand?
A) an automobile B) a new automobile C) a new Ford automobile D) a new Ford Mustang
In most applications of negotiations, they
a. Follow rules of a formal game b. Follow the rules of games like the simultaneous move game of chicken c. Rarely have rules like the ones that characterize formal games d. All of the above
The growth trend in the graph shown is depicted by:
A. A. B. B. C. C. D. D.