Government restrictions on the use of an open-access resource
a. may improve efficiency
b. will decrease efficiency
c. are unnecessary
d. contribute to pollution of the resource
e. contribute to depletion of the resource
A
Economics
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The trade-to-GDP ratio for a nation that had $600 million in exports, $400 million in imports, and GDP of $2,000 million would be
A) 0.1. B) 0.2. C) 0.5. D) -0.1.
Economics
If the demand curve facing a monopoly was 1 unit at $7, 2 units at $6, 3 units at $5, 4 units at $4, and 5 units at $3, at the point along the curve where 3 units are being sold, the elasticity of demand: a. is greater than one
b. is equal to one. c. is less than one. d. cannot be determined from the above information.
Economics