Linder's hypothesis says that countries with ________ of preferences will trade intensively with each other
A) differences
B) utility
C) similarity
D) elasticity
C
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An investment demand curve shows the varying amounts of investment that would be undertaken at various levels of
A. personal saving. B. the real interest rate. C. the average price in the economy. D. consumer spending.
The figure above shows the situation facing Smart Digit, Inc, a firm in monopolistic competition that produces calculators. What is the firm's economic profit per day?
A) zero B) between $1 and $700 C) between $701 and $900 D) more than $901
A chewing gum monopoly can sell 400,000 packages of gum for $0.10 each. If it wants to sell 500,000 packages, its price must be
a. greater than the $0.10 if it doesn't want to earn less profit b. less than the marginal revenue of the 500,000th package c. less than $0.10 d. equal to $0.10 e. none of the above makes sense
The concept of the margin deals with:
A) making incremental choices. B) one more or one less of something. C) doing a little more or a little less. D) all of the above.