An important function of international institutions during times of crisis is to
A) make goods nonrival.
B) make goods nonexcludable.
C) prevent free riding.
D) prevent nondiscrimination.
C
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Suppose the current price of copper is $3 per pound and the quantity supplied is 200 pounds per day
If the price of copper falls to $2.50 per pound, the quantity supplied drops to 180 pounds per day. Use the midpoint formula to calculate the price elasticity of supply for copper.
Suppose that the government decided to increase interest rates in order to encourage saving. Would this likely lead to an increase in investment and higher future economic growth rates? Explain
Suppose there was a country with an adult (age 16 and over) population of 1,000, of which 100 were unemployed and 700 were employed. Which of the following is true?
a. The employment population ratio is 87.5 percent. b. The labor force participation rate is 70 percent. c. The unemployment rate is 12.5 percent. d. There are 700 individuals in this country's labor force.
Marginal revenue is generally __________ for businesses that do not operate under conditions of perfect competition.
A. lower than the price B. higher than the price C. lower than the average cost D. lower than the marginal product