The DeBeers Company of South Africa was able to block competition through
A) ownership of an essential input. B) differentiating its product.
C) government-imposed barriers. D) economies of scale.
A
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If a government runs a fixed exchange rate system and increases the dollar price of its currency, we say there has been a(n)
a. appreciation of the foreign currency b. depreciation of the foreign currency c. revaluation of the foreign currency d. devaluation of the foreign currency e. fixing of the foreign currency
Which of the following events will lead to an inward shift of the aggregate supply curve?
a. an increase in the price level b. an increase in consumer spending c. an increase in labor productivity d. an increase in wage rates
The principal-agent problem occurs:
A. when the principal has less information than the agent. B. when the principal has more information than the agent. C. not observed in reality. D. when the agent has less information than the principal.
Figure 2-6
A shift in the production possibilities frontier from DC to EC in could be due to a
a.
technological improvement in the production of ice cream
b.
reduction in the rate of unemployment
c.
rise in the rate of unemployment
d.
technological improvement in the production of frozen yogurt
e.
fall in the demand for frozen yogurt