Governments that steal from their own citizens are known as ________
A) pure democracies
B) kleptocracies
C) Mugabes
D) antediluvians
B
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In the summer of 1993, there were devastating floods in the midwestern portion of the United States where corn is produced. What effect do you think these floods had on the price of corn and beef? What do you think happened to Canadian corn farmers?
Game theory is
A. the study of how people behave in strategic situations. B. the collusion of a few powerful firms to create monopoly power. C. the act of price-fixing to share markets. D. the division of a market into non-competitive areas, creating regional monopolies.
What is meant by price efficiency?
A. Price is equal to marginal cost. B. Price is greater than average total cost. C. Price is greater than marginal cost. D. Price is equal to average total cost.
Refer to the given graph. A movement from a to b along C 1 might be caused by a(n):
A. recession.
B. wealth effect of an increase in stock market prices.
C. increase in income tax rates.
D. increase in real GDP.