If a country is a net importer of a good, domestic suppliers will supply ________ of that good after it opens itself to international trade.
A. the same amount
B. none
C. less
D. more
Answer: C
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We are investigating the relationship among three variables. We have graphed two of them. Suppose that the variable that is not measured on the x-axis or the y-axis changes. Then, there is
A) no impact on the plotted curve because the variable is not measured on either of the axes. B) a violation of the absence of trend assumption. C) a shift in the plotted curve. D) a movement along the plotted curve. E) an omitted variable.
Refer to the scenario above. What is the opportunity cost of printing one magazine?
A) 1 notebook B) 2 notebooks C) 15 notebooks D) 30 notebooks
The long-run average total cost curve is always
a. flatter than the short-run average total cost curve, but not necessarily horizontal. b. horizontal. c. falling as output increases. d. rising as output increases.
In economic analysis, the optimal level of pollution
A. is always zero. B. arises at the point at which the marginal benefit from further reduction equals the marginal cost of further reduction. C. should be determined by the private market without any government intervention. D. occurs at the point at which demand crosses the private cost supply curve.