The quantity effect of a price decrease by a monopolist is based on:
A) the Law of Supply.
B) the Law of Demand.
C) the Law of Increasing Returns.
D) the Law of Diminishing Returns.
B
Economics
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In 1980 the United States announced an embargo on grain exports to the Soviet Union in response to the Soviet invasion of Afghanistan. This embargo was mainly resisted by
A) U.S. grain consumers of bread. B) U.S. grain producers. C) foreign grain producers. D) U.S. communists. E) economists concerned with U.S. terms of trade.
Economics
If a country had a real GDP of $500 million, and the GDP deflator was110, what is the nominal GDP?
a. $440 million b. $540 million c. $450 million d. $550 billion
Economics