If the price of a bottle of orange juice in the downtown orange juice market is $0.50 per bottle, vendors will happily sell orange juice in the market only if their cost per bottle is
A. greater than $0.50.
B. zero.
C. subsidized by the government.
D. less than $0.50.
Answer: D
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Consider two countries-country A and B. Both economies are exactly similar in all aspects except for one. There are well-defined property rights in country A, while there are no property rights in country B
Given this information, which of the following statements is likely to be true? A) Economy A is likely to grow faster than economy B. B) Economy B is likely to grow faster than economy A. C) Both economies are likely to grow at the same rate. D) None of the countries is likely to experience any growth in GDP.
Exchange rates that are allowed to fluctuate in the open market in response to changes in supply and demand are known as
A) fixed exchange rates. B) gold exchange rates. C) flexible exchange rates. D) IMF exchange rates.
The overall U.S. balance of payments
a. shows a deficit b. shows a surplus c. is the merchandise trade balance d. equals exports minus imports e. shows how deficits in one account are exactly offset by surpluses in other accounts
The necessary condition(s) to realize economies of scale include
A. having the financial resources for the high capital costs. B. having sufficient demand for the product. C. both financial resources for the high capital costs and sufficient demand for the product.