Distinguish the terms price ceiling and price floor
A price ceiling is a government-imposed limit on how high a price can be charged on a product. A price floor is a government imposed limit on how low a price can be charged for a product.
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One reason that DOWN,RIGHT is not a NASH equilibrium is that
a. Player B receives a payoff of 8 as opposed to the payoff of 20 that he would receive if he changed his strategy. b. Player B receives a payoff of 20 as opposed to the payoff of 30 that he would receive if he changed his strategy. c. Player A receives a payoff of 20 as opposed to the payoff of 30 that he would receive if he changed his strategy. d. DOWN, RIGHT is a Nash equilibrium.
What role does foreign direct investment play in international transfer of technology?
What will be an ideal response?
A firm that is a price taker can
a. substantially change the market price of its product by changing its level of production. b. sell all of its output at the market price. c. sell some of its output at a price higher than the market price. d. decide what price to charge for its product.
Which of the following is not included in a nation's balance of payments?
a. International interest and dividend earnings. b. International gifts. c. International loans. d. All of the above are included in the balance of payments.