The United States is the world's leading grain-producing nation. Exporting grain causes the:
a. domestic consumption of grain to rise because of the added foreign demand
b. price of grain in the domestic market to fall because foreigners are now taking some of the domestic demand.
c. price of grain to domestic consumers to rise because of the added foreign demand.
d. standard of living of foreigners to fall because of the lost purchasing power.
c
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Linda committed a traffic violation that resulted in an accident. She learns first that the violation will result in a $500 fine; she then learns that she will have to pay another $500 for damage caused in the accident. According to prospect theory,
A. she will suffer as much disutility from paying for the accident damage as she does from paying the fine. B. she will suffer less disutility from paying for the accident damage than from paying the fine. C. she will suffer more disutility from paying for the accident damage than from paying the fine. D. she will feel less disutility from paying $1,000 than she would receive positive utility from receiving $1,000.
While production teams are important sources of productivity in business, they can suffer from the ________ problem.
A. free rider B. benchmark C. externality D. reneging