Hurricane victims in the United States are likely to receive emergency relief aid and embark upon reconstruction more rapidly than similar victims in India because
A) U.S. victims typically need the resources more than the victims in India.
B) the U.S. economy has a more clearly defined set of property rights compared to the Indian economy.
C) people in the U.S. are typically more charitable than people in India.
D) the global economy is too dependent on the U.S. to let it falter.
B
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Gene's Car Wash is a natural monopoly. To wash 100 cars a week, if Gene is unregulated, he would charge a price of $10. Gene's average total cost for washing 100 cars is $8, his average variable cost is $6, and his marginal cost is $4
If Gene is regulated using a marginal cost pricing rule, the price he is allowed to charge to wash 100 cars is A) $10. B) $8. C) $6. D) $4. E) $400.
Farming in poor countries is considered to be:
A. cost intensive. B. labor intensive. C. capital intensive. D. production intensive.
Suppose the auto industry has several investment projects with an expected rate of return of 15 percent, the aluminum industry has projects with an expected return of over 20 percent, the publishing industry projects with an expected return of 10
percent, the steel industry has projects with an expected return of 7 percent and the rubber industry projects with an expected return of 5 percent. The current market rate of interest is 7 percent. A reduction in the supply of funds causes interest rates to rise to 11 percent. The effect is to A) cause the firms in the steel and publishing industries to cancel their projects, which would have been funded at the old interest rate. B) cause the firms in the steel and the rubber industries to go ahead with their projects. C) force the firms in the automobile industry and the publishing industry to rely on funding their projects through other means. D) make the projects of the aluminum industry and the steel industry unprofitable; the firms in these industries will not borrow the funds or make the investments.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30