The alternative to voluntary exchange is self-sufficiency.
Answer the following statement true (T) or false (F)
True
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Assume that the dollar price of a U.S. basket is $2 and the Mexican price for a U.S. basket is 40 pesos. On the other hand, the Mexican price for the Mexican basket is 100 pesos
Given this information, the dollar price for the Mexican basket will be: A) $8. B) $12. C) $10. D) $5.
The marginal cost curves slope upward because of the principle of
A) decreasing marginal benefits. B) increasing marginal cost. C) increasing marginal benefits. D) decreasing marginal cost. E) decreasing total benefit.
The Augmented Dickey Fuller (ADF) t-statistic
A) has a normal distribution in large samples. B) has the identical distribution whether or not a trend is included or not. C) is a two-sided test. D) is an extension of the Dickey-Fuller test when the underlying model is AR(p) rather than AR(1).
Game theory applies to problems that arise in
a. perfect competition. b. monopolies. c. oligopolies. d. pure competition.