Canada is classified by the International Monetary Fund as
A) an advanced economy.
B) a developing economy.
C) a transition economy.
D) an emerging market economy.
E) a natural-resource based economy.
A
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When demand is elastic, a fall in price causes total revenue to rise because
A) the percentage increase in quantity demanded is less than the percentage fall in price. B) the demand curve shifts. C) when price falls, quantity sold increases so total revenue automatically rises. D) the increase in quantity sold is large enough to offset the lower price.
Generally, official poverty measures ignore
A. the impact of taxes. B. the value of in-kind transfers. C. the value of medical expenses that are paid by the government. D. all of these answer options are correct.
A manager of a firm based in the United States is interested in entering the Italian market. The manager is most concerned about maintaining total control over operations. Which of the following entry methods will best address the manager's concerns?
A) partnership B) joint venture C) master franchising D) independent entry
Bob values the utility of a single scoop of Baskin-Robbins ice cream at $1.50 . A double scoop gives total utility of $2.25, while a triple scoop yields $2.60 . Baskin-Robbins charges $1.35 for a single, $1.95 for a double, and $2.35 for a triple. How many scoops will Bob buy?