Scarcity exists for those with
a. lower incomes
b. average incomes.
c. higher incomes.
d. all of the above.
d
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A decrease in Swiss interest rates will cause
A) an increase in the demand for U.S. dollars and an increase in the exchange rate of Swiss francs per dollar. B) a decrease in the demand for U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. C) an increase in the supply of U.S. dollars and a decrease in the exchange rate of Swiss francs per dollar. D) a decrease in the supply of U.S. dollars and an increase in the exchange rate of Swiss francs per dollar.
Tijuana, Mexico is across the border from San Diego, California
It has become a world-leading producer and exporter of television sets and computer monitors, which it assembles in modern factories owned by multinational consumer electronics firms such as Sony. Initially, these electronics were produced in the industrialized countries of their parent companies, and after several years, the production moved to Tiajuana. This is an example of A) the product cycle. B) intraindustry trade. C) the specific factors model. D) the magnification effect. E) None of the above.
Elasticity of demand is closely related to the slope of the demand curve. The less responsive buyers are to a change in price, the
a. steeper the demand curve will be. b. flatter the demand curve will be. c. further to the right the demand curve will sit. d. closer to the vertical axis the demand curve will sit.
Suppose the price of the good is $175. If the firm produces and sells 515 units of output, its total revenue is:
a. $75,250. b. $84,500. c. $90,125. d. $100,525.