During 2005-2006 Europe imported more than $70 million worth of U.S. long-grain rice. Who gains from this trade?
A) European rice consumers gain from trade.
B) There is no gain from trade.
C) European rice producers gain from trade.
D) American rice consumers gain from trade.
A
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Fill in the blank: The Players Union went on strike against the NBA during the 1998-1999 season, canceling games for weeks
Other things constant, the strike and subsequent cancellation of games would tend to ________ the price elasticity of demand for hockey tickets during the same period the NBA games were canceled. A) worsen B) preserve C) increase D) decrease
Other things remaining the same, if a large part of the population decided against having soda for health reasons, there would be a(n):
a. increase in the quantity of soda supplied. b. increase in the quantity supplied of complements like fries and burgers. c. decrease in the price of soda. d. rightward shift of the demand curve for soda. e. decrease in the quantity demanded of substitutes like mineral water.
A household member's decision about how much labor to supply is most closely linked to
a. the supply of factors of production other than labor. b. technological change. c. the tradeoff between leisure and work. d. immigration trends.
Robert must always have sugar in his coffee. For Robert, the cross price elasticity of demand for coffee and sugar is
A. equal to 0. B. negative. C. positive. D. impossible to determine without more information.