Behavior on the part of the firm that allows it to comply with the letter of the law but violate the spirit reducing the law's effect is
A) asymmetric information.
B) creative response.
C) the lemons problem.
D) only a problem in a monopoly.
B
Economics
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If country A exports good X to country B and country B exports good Y to country A, it is most likely that
A) A has an absolute advantage in the production of good X. B) B has a comparative advantage in the production of good Y. C) the opportunity cost of domestic production of good Y for country A is lowered with trade. D) B is producing less of good Y than in the no-trade case.
Economics
If the exchange rate for Micromania's micros to United States's dollars is 50 micros = $1, then micros have appreciated when the exchange rate becomes
a. 100 micros = $2 b. 100 micros = $1 c. 25 micros = $0.50 d. 25 micros = $0.25 e. 25 micros = $0.75
Economics