Suppose the nation of Alphonia was charged with dumping electric lawnmowers in the nation of Omegalon. The two reasons a nation like Alphonia would dump products in another nation are
A) import licensing and outsourcing. B) price discrimination and import licensing.
C) price discrimination and predatory pricing. D) outsourcing and predatory pricing.
C
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If a firm sells 5 units of output at $9 per unit and 6 units of output when price is reduced to $8, its marginal revenue from selling the sixth unit is
A) $1. B) $48. C) $45. D) $3.
The PPI is a price index that measures the cost to consumers of a typical basket of goods sold by firms
a. True b. False Indicate whether the statement is true or false
A multinational agency that specializes solely in making loans to promote long-term development and growth in developing countries is the
A. International World Fund. B. Federal Reserve System. C. International Monetary Fund. D. World Bank.
According to the Invisible Hand Theorem, when competitive markets are used to allocate resources
a. no further gains from trade can be created. b. selfish behavior will cause socially undesirable outcomes. c. the resulting distribution of income will be fair and equitable. d. each good's price will equal the value of the labor used in its production.