DeBeers is a natural monopoly in the world's diamond trade
a. True
b. False
B
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Jackie notices everyone wearing Converse sneakers on the first day of school. Ever the fashionista, this will likely affect:
A. Jackie's income, as she now needs to buy Converse and will have less to spend on other goods. B. Jackie's preferences for shoes, since she feels as though she needs them now. C. Jackie's expectations of future prices, since the price of Converse will likely go up because they're getting so popular. D. the prices of related goods, since other shoes will be less popular and cost less now.
For the six years following the passage of the North American Free Trade Agreement (NAFTA),
a. the U.S. economy had some of the slowest job growth and highest unemployment in its history. b. the U.S. economy had some of the most rapid job growth and low unemployment in its history. c. the U.S. economy had some of the most rapid job growth and modest unemployment in its history. d. the U.S. economy had some of the slowest job growth and modest unemployment in its history.
Recall the Application about declining U.S. labor force participation rate since 1999 to answer the following question(s). According to this Application, one explanation for the decline in the U.S. labor force participation rate since 1999 is:
A. higher college enrollment. B. the increase in foreign ownership of U.S.-based companies. C. sluggish economic growth that resulted in more discouraged workers. D. the growing number of workers who have postponed retirement.
Brazil is able to produce 10 cars and 5 computers in one hour while India is able to produce 1 car and 4 computers in one hour. Brazil has a comparative advantage in producing _____________, and India has a comparative advantage in producing ________.
a) cars; cars b) computers; cars c) cars; computers d) computers; computers