An example of a U.S. import would be:
A. a bushel of apples that Canadians pick and enjoy during a lovely fall day in Vermont.
B. a French bottle of wine consumed by an American.
C. an Apple computer, made in the U.S., purchased by a French student.
D. an Apple computer, made in the U.S., purchased by a U.S. college student who plans to study abroad in France.
Answer: B
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In the figure above, originally the apartment rental market is in short-run and long-run equilibrium with a rent of $600 per month. Then the government imposes a rent ceiling of $500 per month. The loss of producer surplus
A) is smaller than the gain in consumer surplus. B) is larger than the gain in consumer surplus. C) is the same size as the gain in consumer surplus. D) could be smaller than, larger than, or the same size as the gain in consumer surplus.
If the salvage value is positive the net present value of an investment ________ and this ________ the likelihood that managers will undertake the project.
A) decreases; decreases B) increases; increases C) increases; decreases D) decreases; increases
Macroeconomics can best be described as the:
What will be an ideal response?
In which of the following market structures is a firm most likely to advertise extensively and fear entry of new firms?
a. perfect competition b. pure monopoly c. monopolistic competition d. oligopoly e. both perfect competition and monopolistic competition