If as the variable on the Y-axis rises the variable on the X-axis rises, the relationship between X and Y is said to be a positive relationship.
Answer the following statement true (T) or false (F)
True
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If the ratio of the dollar price of a U.S. toy to the dollar price of a Chinese toy is less than one:
A) retailers in the U.S. should buy the toys from both Chinese suppliers and American suppliers. B) retailers in the U.S. should not buy the toys from both Chinese suppliers and American suppliers. C) retailers in the U.S. should buy the toys from Chinese suppliers. D) retailers in the U.S. should buy the toys from American suppliers.
Refer to the scenario above. The best approach to play this game is to use:
A) a dominant strategy. B) backward induction to come to a decision. C) a credible commitment to influence the payoffs of the game. D) a mixed strategy.
The major similarity between monopolistic competition and perfect competition is
A) the shape of the demand curve. B) that both assume many buyers and sellers. C) price equals marginal revenue in each. D) both assume products are differentiated.
Describe the primary functions of the World Bank, the IMF, and the WTO. When was each of these organizations formed?
What will be an ideal response?