The most important macroeconomic goal is
a. economic growth
b. stable prices
c. high employment
d. increased investment
e. no one economic goal is categorically the most important
E
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Oligopolists use advertising as a way of differentiating their products.
Answer the following statement true (T) or false (F)
What is outsourcing?
A) The process of vertically integrating the factors of production. B) The process of selling products overseas bypassing import tariffs. C) The movement of production to affiliate firms outside of the country. D) None of the above.
A product would be more demand price elastic:
a. the shorter the time the consumer has to adjust to price changes. b. the lower the price of the good. c. the fewer the number of good substitutes. d. the less the essential nature of the good. e. if the supply is more price elastic.
Suppose that the U.S. can make 15 cars or 20 bottles of wine with one year's worth of labor. France can make 10 cars or 18 bottles of wine with one year's worth of labor. From these numbers, we can conclude
a. the U.S. has a comparative advantage in the production of cars. b. France has a comparative advantage in the production of wine. c. the U.S. has a absolute advantage in the production of wine. d. all of the above are conclusions are correct.