Proposals to write off significant developing-country debt were opposed by
a. all developing countries
b. most developed countries and some middle-income, highly-indebted developing countries
c. most developed countries and the poorest developing countries
d. only the poorest developing countries
e. all countries opposed these proposals
B
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List the five key determinants of price elasticity of demand and explain how each determinant indicates if demand tends to be elastic or inelastic
What will be an ideal response?
Refer to Figure 2-14. If the two countries have the same amount of resources and the same technological knowledge, which country has an absolute advantage in the production of popsicles?
A) Greenland B) They have the same advantage. C) Iceland D) cannot be determined Table 2-20 shows the number of labor hours required to produce a wristwatch and a pound of rice in Japan and Thailand.
Suppose Always There Wireless serves 100 high-demand wireless consumers, who each have a monthly demand curve for wireless minutes of QdH = 200 - 100P, and 300 low-demand consumers, who each have a monthly demand curve for wireless minutes of QdL = 100 - 100P, where P is the per-minute price in dollars. The marginal cost is $0.25 per minute. Suppose Always There Wireless charges $0.30 per minute. If Always There Wireless charges the highest fixed fee that it can without losing the low-demand consumers, what is the profit from sales to each of the low-demand consumers?
B. $24.50 C. $33.00 D. $28.13
In the above figure, the range of unit elasticity occurs
A) on the vertical axis. B) on the horizontal axis. C) between point c and point d. D) below point e.