Economic profits are earned when

A) price equals marginal cost.
B) price equals average variable costs.
C) price equals average total costs.
D) price is greater than average total costs.

D

Economics

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Suppose that a country experiences growth strongly biased toward its export, cloth

A) this will tend to worsen the country's terms of trade. B) this will tend to improve the country's terms of trade. C) this will tend to leave the country's terms of trade unchanged. D) this will tend to worsen the terms of trade for the country's trading partner. E) this will increase the price of cloth relative to the imported good.

Economics

Inrecent years in China, the fraction of the population living below the international poverty line ($1.25 per person per day):

A. fell substantially. B. increased dramatically. C. increased more on average compare toother developing countries. D. fell to zero.

Economics