If the foreign use of Australian-mined coal is harming Australia, the optimal policy for the Australian government to use is to
A. tax coal imports.
B. subsidize coal exports.
C. tax foreign coal producers.
D. tax coal exports.
Answer: D
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________ is the ability of an individual, a firm, or a country to produce a good or service at a lower opportunity cost than competitors
A) Autarky B) Absolute advantage C) Comparative advantage D) Specialization
Small businesses that operate outside the normal framework of laws and regulations are part of the
a. informal sector b. capital intensive sector c. International Comparison Project d. human capital network e. none of the above
Average weekly hours in manufacturing is an example of a:
A) leading indicator. B) coincident indicator. C) lagging indicator. D) none of the above.
Refer to the table below. What is the profit-maximizing quantity for Just Juice to produce at Plant 2?
Just Juice produces whole fruit juice that it sells in single bottles. Just Juice is a multi-plant firm with market power. The above table summarizes the total marginal cost of production at various output levels in Just Juice's two plants with the corresponding marginal revenue (dollars per bottle) and market demand (price per bottle).
A) 425
B) 450
C) 530
D) 600