While not as relevant today, the trade theory that was useful in explaining the pattern of trade when the US dominated the global market is the ______ theory.
Fill in the blank(s) with the appropriate word(s).
product life cycle
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The table below shows the weekly supply for hamburgers in a market where there are just three sellers.PriceSeller 1 Qs 1Seller 2 Qs 2Seller 3 Qs 3$5854464334322221If the price of a hamburger decreases from $3 to $2, then the weekly market quantity of hamburgers supplied will
A. decrease from 9 to 5. B. increase from 5 to 13. C. decrease from 13 to 5. D. increase from 5 to 9.
What is a budget line? What does its slope indicate?
What will be an ideal response?
Given the equations for C, I, G, and NX below, what is the marginal propensity to save?
C = 1,000 + 0.8Y I = 1,500 G =1,250 NX = 100 A) 0.2 B) 0.8 C) 1.8 D) 10
When negative externalities are present in a market,
a. producers will be affected but consumers will not. b. producers will supply too much of the product. c. demand will be too high. d. the market will still maximize total benefits.