Which of the following is not an argument in favor of restricting trade??
What will be an ideal response?
?Increasing consumer surplus
You might also like to view...
Describe the difference between social interest theory of regulation and the capture theory of regulation
What will be an ideal response?
For a particular good, a 2 percent increase in price causes a 12 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
a. There are no close substitutes for this good. b. The good is a luxury. c. The market for the good is broadly defined. d. The relevant time horizon is short.
In the loanable funds market,
A. The price is the interest rate. B. The supply curve reflects the behavior of borrowers. C. If interest rates rise, firms borrow more. D. The demand curve reflects the behavior of lenders.
If the aggregate income of an island country is $8 million and income per capita is $5,000, the total population of the island is ________
A) 1,600 B) 106,000 C) 40,000 D) 20,000