The difference between exports and imports of goods is the
A) balance of trade.
B) balance of payments.
C) balance of accounts.
D) balance of paying.
Answer: A
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Compared to a perfectly competitive firm, a monopolist
A. is less likely to advertise. B. will, according to Schumpeter, invest fewer resources in research and development. C. usually produces an inefficiently small level of output. D. is less likely to face government regulation.
Refer to Table 4.2. With which scenario will you be best off by investing in Japanese bonds instead of U.S. bonds?
A) A B) B C) C D) D
The Occupational Safety and Health Administration (OSHA) has determined that 100 workers are exposed to a hazardous chemical used in the production of diet soft drinks. The cost of imposing a regulation that would ban the chemical is $10 million. OSHA has calculated that each person saved by this regulation has a value equal to $10 million. If the benefits are exactly equal to the costs, what
probability is OSHA using to assess the likelihood of a fatality from exposure to this chemical? a. 0.001 b. 0.01 c. 0.1 d. 1.0
Economic losses mean that firms will exit from a market in the short run.
Answer the following statement true (T) or false (F)