Based on opportunity cost, where would one expect to have the most difficulty finding a teenager to baby-sit?
A) A high-income area with lots of teenagers
B) A low-income area with lots of teenagers
C) A middle-income area with lots of teenagers
D) Any income area because teenagers no longer like babysitting
A
Economics
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When a fixed exchange rate system is adopted, it results in all of the following except:
A) reduced uncertainty about exchange rate. B) decreased volatility in prices. C) increased volume of trade. D) decreased volume of trade.
Economics
In the absence of any government regulation on price, if a firm has no power to set price on its own, one can safely conclude
A) the demand curve for the firm's product is horizontal. B) there aren't many firms in the industry. C) the market is in long-run equilibrium. D) the firms in this industry are not profitable.
Economics