Refer to Scenario 5.3. Based on the 10 years' past performance, what is the probability of a good year for Zowiebo?
A) 30/31
B) 1/31
C) 0.9
D) 0.1
D
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A cartel might fail because
A) it does not control enough of the output in a market to raise prices enough. B) there is an incentive for members to cheat. C) too many firms leave the cartel, causing the cartel price to fall. D) All of the above.
"Demand deposits" in commercial banks are
A) assets of both the non-bank public and the banks. B) assets of the depositors and liabilities of the banks. C) liabilities of the non-bank public and of the banks. D) liabilities of the non-bank public and assets of the banks.
Which of the following is true?
a. When economies of scale are important in an industry, the domestic market of a small country may not be large enough to support cost-efficient firms. b. In small countries, firms in industries where economies of scale are important will tend to export little, if any, of their output. c. The size of the trade sector (exports plus imports) as a share of GDP will generally be larger in more populous countries than in smaller less-populated countries. d. Countries with higher trade barriers have higher growth rates.
In the figure above, with international trade the United States ________ million T-shirts per year
A) imports 20 B) exports 20 C) imports 40 D) imports 60 E) exports 40 The figure above shows the U.S. market for airplanes, where SUS is the domestic supply curve and DUS is the domestic demand curve. The United States trades freely with the rest of the world. The world price of an airplane is $150 million.