Refer to the above table. If opportunity costs are constant, the two countries will gain from trade at a rate of exchange of
A) 0.1 computer for 1 bicycle.
B) 5 computers for 1 bicycle.
C) 1 computer for 1 bicycle.
D) 8 bicycles for 1 computer.
C
Economics
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Many online auctions end when a certain amount of time has gone by without a bid. This causes bidders to place several last-minute bids. This practice is known as ________
A) sniping B) jump bidding C) nonforcing D) signing off
Economics
If the demand curve for a good is unit price elastic and the supply curve is perfectly price elastic, a $1 specific tax imposed on the sellers of this good will
A) shift the supply curve up vertically by $1. B) shift the demand curve down vertically by $1. C) not raise price at all. D) cause price to increase but by less than $1.
Economics