For a low-income country to develop into a high-income country, ____ is (are) needed
a. high rates of inflation
b. high interest rates
c. sustained economic growth
d. restrictions on international trade
c
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What is true of equilibrium in the game in Scenario 13.14?
A) In equilibrium, both firms choose Q = 50. B) In equilibrium, both firms choose Q = 100. C) There are two equilibria, at Q = 50 and at Q = 100. D) The only equilibrium is in mixed strategies. E) The two equilibria are those associated with the (40,30 ) outcome and the (30,40 ) outcome.
Cross elasticity of demand for
a. substitutes will normally be positive. b. complements will normally be positive. c. substitutes will normally be negative. d. complements will normally be infinite.
Which of the following is true for perfect competition but not true for monopolistic competition and monopoly?
A. P = MC and positive long run profits B. Positive long run profits C. P = MC D. MC = MR
Assume Mimi's budget constraint is shown in the graph shown. If earrings cost $7, then hairbands must cost:
A. $5.25. B. $7. C. $4. D. $3.50.