If free trade is opened between two countries, then one country must gain at the other country's expense
a. True
b. False
Indicate whether the statement is true or false
False
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Refer to the table above. This is an example of a ________ tax system
A) progressive B) regressive C) proportional D) cardinal
Explain why individual firms in competitive markets face more elastic demand curves than the market as a whole
What will be an ideal response?
Shortages prevail in the market for organ transplants at zero price
a. True b. False Indicate whether the statement is true or false
Your professor loves his work, teaching economics. He has been offered other positions in the corporate world that would increase his monetary income by as much as 25 percent, but he has decided to continue working as a professor. His decision to continue teaching rather than taking other positions would not change unless
a. the marginal cost of teaching increased above the marginal benefit. b. the marginal benefit of teaching increased above the marginal cost. c. the marginal cost of teaching decreased. d. the marginal benefit of a corporate job decreased.