In international trade, dumping refers to
a. producing a lower quality good for export than what is produced for domestic consumption
b. selling an export at a higher price than its price to domestic consumers
c. selling an export at a price below its cost of production
d. producing a lower quality good for domestic consumption than for export
e. paying workers below subsistence wages
C
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The demand for computers increases. As a result
A) the quantity demanded of workers increases, the wage rate rises, and the supply of labor increases. B) the demand for workers increases, hiring increases, but wages stay the same since each firm faces a horizontal supply curve of labor. C) the wage rate increases in the industry and the quantity demanded of workers falls. D) the wage rate increases in the industry and the quantity supplied of workers increases.
Cross-subsidization implies that a loss from one product's sales will be made up by the profit from another product's sales
a. True b. False Indicate whether the statement is true or false
Which of the following firms faces monopolistic competition?
a. A poultry farm selling eggs to different bakeries b. A fashion store selling clothes at an up-scale boutique c. A fruit-bowl shop at a local market d. A movie hall selling tickets in advance for an upcoming blockbuster
If the MPC = 4/5, then the government purchases multiplier is
a. 5/4. b. 4/5. c. 5. d. 20.