The benefits of international trade are derived from trade in
A) tangible goods only.
B) intangible goods only.
C) goods but not services.
D) services but not goods.
E) anything of value.
E
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In the country of Darrowby, net domestic income at factor cost is $2.0 million. Gross domestic product is $3.0 million, and depreciation is $0.5 million. Indirect taxes less subsidies ________
A) are $1 million B) are $0.5 million C) cannot be calculated D) are -$0.5 million
A perfectly competitive firm has a random demand with a 20 percent chance of being $18 and an 80 percent chance of being $26. What is the firm's expected marginal revenue?
A) $24.40 B) $26.00 C) $18.50 D) $25.60
Saccharin and aspartame are both low-calorie substitutes for sugar. If saccharin is found to cause cancer,
a. the price of aspartame will increase. b. the price of sugar will decrease. c. the price of saccharin will increase. d. the demand curves for aspartame and sugar will shift leftward. e. aspartame and sugar will be complements.
An emission charge decreases private marginal cost and encourages greater output.
Answer the following statement true (T) or false (F)