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A black market is:
a)Something that happens when producers sell goods for a greater price than the government mandated price ceiling.
b)A characteristic of a surplus or excess supply condition.
c)Legal but frowned upon by economists who feel it violates consumer sovereignty.
d)None of the above.
The marginal rate of substitution:
a)Is constant at all points on the budget line.
b)Increases in absolute value as one moves southeast along an indifference curve.
c)Decreases in absolute value as one moves southeast along an indifference curve.
d)May increase or decrease in absolute value as one moves southeast along an indifference curve, depending upon whether the substitution or income effect is dominant.
Global marketing managers must understand economics and trade rules of countries and regions within which they trade.
explain how Alternative Trade: Legacies for the Future supports or challenges your conceptualizations of trade and development. Are there themes that some of you agree upon? Do you disagree on others? Describe your conversation.
In 1981, the United State negotiated a contract with the Japanese. The contract called for Japanese auto firms to limit exports to the United State.
Consider two Countries that share the same technology, South Africa and the UK, and two goods, Diamonds and Tea
What will be the effects of an increase in the money supply
Calculate the forward discount or Premium for the Mexican peso whose 90-day forward rate is $.102 and spot rate is $.10. State whether your answer is a discount or premium.
Determine the advantages or disadvantages of buying imports versus buying domestic products in relation to fashion industry.
Which political system describes best the governance system of the EU? Is the governance system of the EU democratic? Why ‘yes', or why ‘not'?
Calculate and Plot using a spreadsheet (like Ms Excel) the series for Nominal GDP
Discuss how do government bureaus differ from private firms and explain why is there good reason to believe that bureaucrats will seek to supply more than efficient level of their output in any year?
In September 2003, a United State retailer wants to buy canola oil from a Canadian farm. At that time in Canada, one barrel of canola oil value C$2.
The consumption function is given by C = 200 + 0.75(Y - T ). The investment function is I = 200 - 25r, r is the real interest rate. Government buy and taxes are both 100.
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