Refer to the figure above. What is the consumer surplus before Barylia opens up to free trade?
A) $250
B) $300
C) $350
D) $400
D
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Suppose coal sells for $50 per ton and can be mined at a constant marginal cost of $20 per ton. Forecasters predict that the price of coal next year will be $55
If your marginal cost next year will still be $20 and the interest rate is 10%, do you sell coal today?
Prices in both the U.S. and India rise, but prices in India increase by a smaller percentage. According to purchasing-power parity the U.S. dollar
a. gains value both in terms of the domestic goods and services it can buy and in terms of the Indian currency it can buy. b. gains value in terms of the domestic goods and services it can buy, but loses value in terms of the Indian currency it can buy. c. loses value in terms of the domestic goods and services it can buy, but gains value in terms of the Indian currency it can buy. d. loses value both in terms of the domestic goods and services it can buy and in terms of the Indian currency it can buy.
What best describes what makes a cooperative fixed exchange rate system work?
A) There are too many cooks in the kitchen. B) Take all you can get. C) You scratch my back, I'll scratch yours. D) Curiosity killed the cat.
Utilitarianism is a principle whose goal is ________.
A) the greatest happiness for the greatest number
B) the greatest pay for the greatest number
C) equal pay for equal work
D) equal happiness for all workers