Intraindustry trade relies on
A) economies of scale.
B) the product cycle.
C) differences in factor endowments.
D) monopoly pricing.
A
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The actual budget deficit is equal to the
A) structural deficit minus the cyclical deficit. B) structural deficit plus the cyclical deficit. C) cyclical deficit minus the structural deficit. D) cyclical deficit. E) structural deficit.
Deterring entry might require a firm to
A) price their product closer to the competitive price than to the monopoly price. B) price their product closer to the monopoly price than to the competitive price. C) drop output almost to zero to show the consumers "who's boss." D) drop price almost to zero to get price below marginal cost.
John is trying to decide how to divide his time between his job as a stocker in the local grocery store, which pays $7 per hour for as many hours as he chooses to work, and cleaning windows for the businesses downtown. He makes $2 for every window he cleans. John is indifferent between the two tasks, and the number of windows he can clean depends on how many hours he spends cleaning in a day, as shown in the accompanying table.Time cleaning windows (hours/day)Total number of windows cleaned0017211314416517 What is the lowest price per window that John would be willing to accept to spend 4 hours per day cleaning windows?
A. $3.50 B. $7 C. $2 D. $11
In the expanded circular flow diagram, the rest of the world interacts directly with:
A. households. B. firms. C. product markets. D. factor markets.