Average revenue is slightly higher than price.
Answer the following statement true (T) or false (F)
False
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An increase in income produces a parallel, outward shift in the budget line.
Answer the following statement true (T) or false (F)
Crony capitalism is present when
a. businesses are either implicitly or explicitly prohibited from making donations to political candidates. b. businesses either implicitly or explicitly provide political decision-makers with contributions and other forms of political support in "exchange" for government favors that will improve their profitability. c. rule of law is present and government officials treat all citizens alike. d. government officials spend taxpayer funds only on productive projects.
Michael Jordan's rookie salary in 1984 was $550,000 . The CPI in 1984 was 103.9, while the CPI in 2010 was 218.1 . What is Michael Jordan's rookie salary in 2010 dollars?
If the opportunity cost of producing a good domestically exceeds the opportunity cost of purchasing it on the world market, a country can gain by
A. decreasing production and increasing exports. B. increasing production and decreasing exports. C. increasing production and decreasing imports. D. decreasing production and increasing imports.