Globalization is becoming more of a worldwide phenomenon because
a. more countries want to become self-sufficient.
b. less-developed countries are increasing their trade restrictions.
c. technological advancements are decreasing transportation costs.
d. trade hurts workers in poor countries.
C
Economics
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Explain the difference between an equilibrium level of GDP and a level of GDP which is in disequilibrium.
What will be an ideal response?
Economics
A cellphone maker sells 6,000 units per month at $600 each. The firm is investigating whether a price cut to $500 is warranted. The firm’s marginal cost of production of each phone is a constant $400 per unit. To maintain profits at their current level, quantity sold must increase to at least
A. 8,000 B. 10,000 C. 12,000 D. 15,000
Economics