Which one of the following countries has a high level of trade, exporting almost 50% of their total production?
a. United States
b. United Kingdom
c. Germany
d. Italy
c. Germany
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In the late 1990's, the Wall Street Journal suggested that the stock market is grossly undervalued even while it is breaking all time records monthly. Its argument was that the risk factor of stock was being reduced dramatically due to increased stability in the economy and the prospects for continued long-term growth. Illustrate how this assumption about the economy leads to a rational bidding up of stock prices.
What will be an ideal response?
Who among the following is underemployed?
a. Brian, who works part-time as he wants more time to study b. Regina, who works part-time but is willing to work full-time c. Daniel, who works as a ski instructor but only during winter each year d. Roger, who works at a shoe store in the morning and at a restaurant in the evening
The definition of monopolistic competition includes
A. few firms and ease of entry and exit. B. few firms and barriers to entry and exit. C. many firms and barriers to entry and exit. D. many firms and ease of entry and exit.
The social costs of an activity are greater than the private costs of the activity when
A) a person does not pay all costs associated with a particular resource-using activity. B) the internal costs of the resource-using activity are less than the external costs of the activity. C) the internal costs of the resource-using activity are positive. D) the external costs of the resource-using activity are zero.