Dumping occurs when a producer
A. exports low priced low quality products.
B. sells an export at a higher price than it charges domestically.
C. buys raw materials at exploitatively low prices.
D. makes a predatorily attempt to bankrupt foreign competitors to establish a worldwide monopoly by selling below cost.
D. makes a predatorily attempt to bankrupt foreign competitors to establish a worldwide monopoly by selling below cost.
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Wealth equals:
A. current income minus spending on current needs. B. investment minus saving. C. assets minus liabilities. D. saving minus investment.
Jessica traded her string cheese for Jamie's apple the other day at lunch. Who was made better off?
A. Both Jessica and Jamie B. Jessica C. Neither Jessica nor Jamie D. Jamie
When the monopoly insurer cannot observe the care taken by the insured party to avoid an accident, the most profitable contract for it:
a. offers full insurance at a higher price than the full-information policy. b. offers full insurance at a lower price than the full-information policy. c. offers partial insurance at a higher price than the full-information policy. d. offers partial insurance at a lower price than the full-information policy.
Which of the following is an accurate statement about the effect of close substitutes?
a. Goods with many close substitutes will usually have elastic demands. b. Goods with many close substitutes will usually have inelastic demands. c. Goods with few close substitutes will usually have perfectly elastic demands. d. Goods with few close substitutes will usually have perfectly inelastic demands.