Resources that ________ protected by well-defined property rights are in ________ of being depleted
A) are; great danger
B) are; absolutely no danger
C) are not; the greatest danger
D) are not; little danger
C
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A firm that charges a very low price would be practicing predatory pricing if
A. the price allowed only a small profit. B. the price would only be profitable if it succeeded in driving a rival out of the market and prices increased afterward. C. the price allowed profits that were positive but below those earned by other firms. D. it only offered the low price to its rivals’ customers.
In January 2001, the euro/dollar exchange rate was 1.10, and in January 2002, the euro/dollar exchange rate was 1.120 What happened to the exchange rate during this period?
A) Euro appreciated against the dollar. B) Euro depreciated against the dollar. C) Dollar appreciated against the euro. D) Both B and C.
The second step of the four step process is to
a. identify the new equilibrium and then compare the original equilibrium price and quantity to the new equilibrium price and quantity. b. decide whether the economic change being analyzed affects demand or supply. c. draw a demand and supply model before the economic change took place. d. decide whether the effect on demand or supply causes the curve to shift to the right or to the left, and sketch the new demand or supply curve on the diagram.
Part of the argument against deficits is that they
a. increase interest rates and investment. b. increase interest rates and decrease investment. c. decrease interest rates and investment. d. decrease interest rates and increase investment.