If the price of a good in a closed economy is lower than the world price, then with an open economy this country will be a ________ of that good.

The Herfindahl-Hirschman Index is the ________ of the percentage market share of each firm summed over the largest 50 firms in a market

A) sum B) square C) square root D) cube E) negative

Generally, expenses on a sport utility vehicle are a large part of a consumer's budget, so the demand for sport utility vehicles is more likely to be

A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.