Something will be rare but not scarce if very little of it exists and
A) its price is high enough that only a few wish to purchase it.
B) its price is high enough that no one can afford it.
C) no one wants any.
D) the quantity supplied is greater than the quantity demanded.
C
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When U.S. computer companies hire workers in India to staff their customer service call centers, they are engaging in
A) predatory pricing. B) unfair trade practices. C) outsourcing. D) labor engagement.
Suppose Iceland goes from being an isolated country to being an importer of coats. As a result,
a. consumer surplus increases for consumers of coats in Iceland. b. producer surplus increases for producers of coats in Iceland. c. total surplus remains unchanged in the coat market in Iceland. d. it is reasonable to infer that Iceland has a comparative advantage over other countries in coat production.