Refer to Scenario 2.2. What is the effect of the BBP on the equilibrium price of dental care?
A) It unambiguously increases.
B) It unambiguously decreases.
C) It increases only if supply shifts more than demand.
D) It increases only if demand shifts more than supply.
A
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In 2012, all of fast-food chains expanded their hours of operation, with nearly 40% of all McDonald's restaurants being open 24 hours per day. This strategy was aimed at increasing sales because:
A) it was estimated that nearly one-fifth of all employed Americans worked primarily in the evening contributing to the demand for fast-food in late hours. B) it was estimated that consumers who shop at night tend to be more price sensitive. C) it was believed that longer hours of operation would lead to greater brand loyalty. D) none of the above.
Which of the following can be considered as a cultural barrier to trade?
a. Prohibition on Zimbabwean aircrafts from flying over or landing in Canada. b. Restriction on the export of luxury goods to the Democratic Peoples Republic of Korea from Canada. c. An arms embargo imposed on China by the U.K. government d. Japanese law requiring a new retail firm to receive permission from other retailers in the area in order to open a business. e. Restriction on the export of strategic goods to Ghana imposed by the government of U.K.