From the perspective of economic theory, prices are basically
A) constant.
B) information signals
C) rising.
D) rates of exploitation.
B
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Considering all costs of production, the marginal cost of producing a hot dog is $1.00. The price of a hot dog is $1.50. Thus, the producer surplus from this hot dog is
A) $1.50. B) $1.00. C) $.50. D) Zero, because $1.50 is the most anyone would pay for a hot dog.
If the marginal propensity to consume (MPC) is 0.80, the value of the spending multiplier is 2
a. True b. False Indicate whether the statement is true or false
The export supply and import demand curves measure the domestic shortage and surplus, respectively, at different world prices
a. True b. False Indicate whether the statement is true or false
Political factors influence international trade because
A. foreign trade always involves at least two governments. B. foreign governments are much less concerned with the welfare of citizens in other countries. C. foreign governments often establish impediments to free international trade. D. All of the above are correct.