The Internet has allowed an increasing number of goods and services to be traded in national markets.
Answer the following statement true (T) or false (F)
True
Many services and products are available from the sellers' websites, regardless of the geographical location of the buyer.
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Suppose the nominal exchange rate rises from 82 to 90. The domestic currency has appreciated by ________ percent
A) ten B) nine C) eight D) 86
All of the following statements are true regarding voluntary production reduction programs EXCEPT
A. they offer firms incentives to reduce their production voluntarily. B. they include payments to producers who reduce production. C. they are an attempt to limit supply. D. they are an attempt to protect consumers from high prices.
After getting a raise at work, Jennie now regularly buys steak instead of hamburger. Based on this behavior, we can assume:
A. steak is a normal good, and hamburger is an inferior good for Jennie. B. steak is an inferior good, and hamburger is a normal good for Jennie. C. steak and hamburger are complementary goods for Jennie. D. steak and hamburger are normal goods for Jennie.
For an increasing cost industry, the long-run supply curve has a(n) _____ elasticity of supply
a. infinite b. negative c. positive d. zero