A(n) ________ is a tax on an imported good
A) export quota B) tariff
C) voluntary export restraint D) import quota
B
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If a 10% increase in the price of one good results in no change in the quantity demanded of another good, then it can be concluded that the two goods are
A. complements. B. substitutes. C. inferior. D. unrelated.
An implicit cost is defined as:
A) the opportunity cost of using a resource that is not explicitly paid out by the firm. B) the difference between an input's explicit cost and its actual cost. C) the amount by which economic profit exceeds accounting profit. D) the amount by which the money spent on an input to production exceeds its opportunity cost.
Countries in which region experienced disruptive capital flows in 1997-98?
A) Eastern Europe B) Western Europe C) Latin America D) East Asia
A transaction between A and B benefits both parties by 50, but imposes a cost on C of 20. C has the right to prevent the transaction. A "coordination failure" in this situation
A) is the cost imposed on C. B) is the ability of C to prevent a transaction that still has a net overall gain of 80. C) would occur if A and B do not compensate C by 20 or more to allow the transaction. D) is that the cost to C is not 100.