Which of the following is an example of a trade restriction?
A) quotas
B) tariffs
C) dumping
D) a and b
E) a, b, and c
D
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Which of the following resources will a producer demand another unit of so long as the additional unit's marginal revenue exceeds its marginal cost?
a. labor b. capital c. natural resources d. entrepreneurial ability e. All of the answers are correct.
When people by insurance they often adopt risky behavior. This is an example of
A) adverse selection. B) moral hazard. C) a negative externality. D) moral hazard and a negative externality.
Figure 7-12
Refer to . When price falls from $50 to $40, it can be inferred that demand between those two prices is
a.
inelastic, since total revenue decreases from $8,000 to $5,000.
b.
inelastic, since total revenue increases from $5,000 to $8,000.
c.
elastic, since total revenue increases from $5,000 to $8,000.
d.
unit elastic, since total revenue increases from $5,000 to $8,000.
If the money supply of a country doubles, a likely result is ________.
enough demand to give everyone a job inflation a trade surplus a doubling of real GDP