1. A legal maximum on the price at which a good can be sold is called a? price ceiling. 2. Which of the following is likely to have the most price elastic demand? Breakfast cereal‚ corn flakes 3. A reduction in a country ’s barriers to trade? benefits some citizens of the importing country but does not benefit the domestic producers in the importing country. 4. The amount of a good that buyers are willing and able to purchase is quantity demanded. 5. Suppose a market in which demand is more elastic
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History Quiz 1) To finance the American Revolution‚ the first paper notes were produced‚ known as Continentals. A 2) In response to the financial crisis in the 2000’s‚ the Federal Reserve’s policy making body cut the federal funds rate to nearly 0‚ the lowest level in over 50 years. c 3) Which president signed the Federal Reserve Act into law? Woodrow Wilson. C 4) The first Bank of the United States was chartered in 1791. B 5) During the 1920’s‚ the Fed began to use this as a monetary policy
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controlling‚ and managing value-added activities in other countries. Directly investing in‚ controlling‚ and managing value-added activities in other markets. Directly investing in shares of a multinational enterprise. All of these answers Question 2 In high masculinity societies: women are increasingly likely to become politicians and soldiers. men frequently assume the role of nurses‚ teachers‚ and househusbands. there is a sharp role differentiation along gender lines. members place
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of consumption. Von Thunen suggested that: Items with the highest value density should be located on the innermost concentric circle The movement of freight and people has evolved over time and can be described as the “spatial evolution of economic systems.” Four major stages have occurred in this evolutionary process. The stages include which of the following? Pre-industrial‚ industrial revolution‚ Fordism‚ and post-Fordism Which of the following is true regarding Lardner’s Law and market
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A.P. Economics - Test #6 Review Name: __________________________ Date: _____________ ___ 1. A monopolistically competitive firm has a downward-sloping demand curve for its product‚ primarily because: A) there exist no barriers to entry or exit in the long run. B) there are many sellers in the industry. C) the firm sells a product distinct from products sold by competing firms. D) the price is greater than the marginal revenue. ___ 2. Which of the following is most likely to be observed when firms
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The firm can supply the entire market at a lower cost than could two or more firms. [pic] 26) Prime Pharmaceuticals has developed a new asthma medicine‚ for it has a patent. An inhaler can be produced at a constant marginal cost of $2/inhaler. The demand curve‚ marginal revenue curve‚ and marginal cost curve for this new asthma inhaler are in the figure above. With its patent giving it a monopoly for its new inhaler‚
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have some level of trust and has an economic benefit. What is Surplus? Surplus is when there is an excess of a good or an offer service; when the supply of a good is greater than the demand for it‚ then there is a surplus of the supplied good. What is a Predatory State? A predatory state is an economic state that seeks to maximize the profits of the wealthy and the government at the cost of the middle and lower-class. US/UK What is Fordism and in what economic system was it dominant?
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negative. Question Relative to a competitively organized industry‚ a monopoly produces Answer more output‚ charges higher prices and‚ earns economic profits. less output‚ charges lower prices and‚ earns economic profits. less output‚ charges lower prices and‚ earns only a normal profit. less output‚ charges higher prices and‚ earns economic profits. Question Which of the following is NOT an example of price discrimination? Answer Airlines charging lower prices to travelers who stay
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Quiz Submissions - Weekly Test 02—Organisational Environments and Cultures Top of Form Question 1 1 / 1 point What are the two types of external organisational environments? public and private market-specific and the product-specific organisational and the interpersonal global and the national general and the specific Question 2 1 / 1 point In terms of external organisational environments‚ the ____ environment affects all organisations while the ____ environment is unique to each company
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1. A nation’s standard of living is best measured by its a. | real GDP. | b. | real GDP per person. | c. | nominal GDP. | d. | nominal GDP per person. | 2. Productivity is defined as the quantity of a. | labor required to produce a nation’s GDP. | b. | labor required to produce one unit of goods and services. | c. | goods and services produced from each unit of labor input. | d. | goods and services produced per unit of time. | 3. The equipment and structures available to
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