If a wealthy nation such as the United States trades with a poorer, less developed nation like Cambodia, then it is likely true that:
A. the United States is taking advantage of Cambodia and is the only beneficiary to the trade.
B. Cambodia is pressured to enter trade and not benefiting at all.
C. both the United States and Cambodia can benefit from trading.
D. the United States is being charitable and not benefiting from the trade at all.
C. both the United States and Cambodia can benefit from trading.
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When people are considered risk averse, they:
A. generally have a low willingness to take on risk. B. generally have a high willingness to take on risk. C. will only participate in low-risk activities. D. will never accept risk in any situation.
Which of the following could be the price elasticity of demand for a good for which a decrease in price would decrease revenue?
a. 0.8 b. 1 c. 1.8 d. 2.4
Why is the scrotum located outside the body?
A. The atmospheric temperature is lower and is essential for sperm production B. The vas deferens provides a longer pathway for the maturation of sperm C. To keep the testes away from the infective potential of the digestive system D. To protect the testes from abdominal trauma
Dumping is
A) selling a good abroad in huge quantities at a very low price. B) exporting goods that are sources of pollution. C) exporting goods that are of inferior quality relative to the goods sold in the domestic market. D) selling a good abroad at a price below cost or below the price charged in the domestic market.