One reason that a large share of the trade between high-income industrial economies is intraindustry trade is because
A) it is more advantageous than interindustry trade.
B) high-income industrial economies produce in the first stage of the product cycle.
C) high-income industrial economies have dissimilar resource endowments in absolute terms.
D) it allows firms to take advantage of internal economies of scale.
D
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When the price per ticket is P*, there are empty seats at a university’s basketball arena. From this, we can conclude that
A. P* is greater than the equilibrium price. B. P* is less than the equilibrium price. C. P* is the equilibrium price. D. it’s not possible to determine anything about the equilibrium price with this information.
What type of protection does U.S. law grant the creator of a book, film, or piece of music?
A) A copyright, which grants exclusive rights to the creator for 20 years after the work is created. B) A patent, which grants the exclusive right to use the creation during the creator's lifetime and to his or her heirs for 70 years after the creator's death. C) A public franchise, which grants the exclusive right to use the creation during the creator's lifetime and to his or her heirs for 70 years after the creator's death. D) A copyright, which grants the exclusive right to use the creation during the creator's lifetime and to his or her heirs for 70 years after the creator's death.
The objective of supply-side economics is to _____________. The problem, said the supply-siders, was that ___________ were hurting the incentive to work and invest.
Fill in the blank(s) with the appropriate word(s).
You would expect the demand for food to be more inelastic than the demand for cookies
Indicate whether the statement is true or false