Recent rapid economic growth in India and China has reduced the amount of "brain drain" in those countries
Indicate whether the statement is true or false
TRUE
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Use the following graph for a market to answer the question below.
Which of the following would best explain why the shift in demand from D1 to D2 would cause price to rise from P1 to P2?
A. After the shift in the demand, there would be a surplus at price P2. B. After the shift in the demand, there would be a shortage at price P1. C. After the shift in the demand, there would be a surplus at price P1. D. After the shift in the demand, there would be a shortage at price P2.
Sammy is willing to lend Oscar $625 today so Oscar can purchase a new set of tires for his pickup truck. Oscar agrees to pay the loan back plus 5% interest in one year. What is the future value of this loan?
A) $595.24 B) $656.25 C) $750.00 D) $812.50
In the English market, colonial tobacco was ______________ Spanish tobacco
a. more expensive than b. less expensive than c. priced similarly to d. more heavily taxed than
An optimizing consumer will select the consumption bundle in which the marginal rate of substitution
a. is equal to the price of the least-expensive good. b. exceeds the marginal utility of each good by the greatest amount. c. is less than the slope of the budget constraint. d. None of the above is correct.