International trade occurs because the opportunity cost of producing specific goods differs across

Under the liquidity premium theory, the expectation that future short-term rates will be constant results in a yield curve that

A) is flat. B) slopes upward. C) slopes downward. D) is flat, slopes upward, or slopes downward, depending on the size of the term premium at each maturity.

A monopolist will earn economic profits as long as his price exceeds:

a. marginal revenue. b. average fixed cost. c. average variable cost. d. average total cost.