An example of an intermediate good would be
A) the soda pop sold by Quiznos.
B) the bread that goes into a sub sandwich that is sold by Quiznos.
C) the potato chips sold by Quiznos.
D) a sub sandwich sold by Quiznos.
B
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Which of the following creates difficulties in making comparisons of real GDP across nations?
A) Each nation has a different population. B) Relative prices differ sharply across countries. C) Nations produce different goods and services. D) Nations often have different languages.
The public education system is an example of
A) an income maintenance program. B) a negative income tax. C) the poor paying more than the market price for a service they receive. D) a subsidized service.
Refer to above figure. While selling exports it would also maximize its domestic sales by equating its marginal (opportunity) cost to its marginal revenue of $5. How much steel would the firm sell domestically, and at what price?
What will be an ideal response?
Hostile takeovers of corporations have been in the business news for some time now. Several states have passed laws making it harder for out-of-state corporations to acquire firms headquartered in their states. Several corporations have established
"golden parachutes" to give executives high payoffs in case of hostile takeover. What market imperfection is likely to be worsened by these actions? Explain.