Quiz_________________?
________ indifference curves are preferred to ______ ones -
Answer✅
higher, lower
Quiz_________________?
4 components of GDP -
Answer✅
1. consumption
2. investment
3. government purchases
4. net exports (exports minus imports)
Quiz_________________?
a change in price will cause a large change in the quantity demanded -
Answer✅
elastic
1
, Quiz_________________?
a change in price will not cause a large change in the quantity demanded -
Answer✅
inelastic
Quiz_________________?
a competitive firms demand curve is ______ elastic than a monopoly's demand curve -
Answer✅
more
Quiz_________________?
a curve that represents a consumers preferences -
Answer✅
indifference curve
Quiz_________________?
a firm is a sole seller of a product with no close substitutes -
Answer✅
monopoly
Quiz_________________?
a firm will produce the quantity where MR = MC as long as ________ -
Answer✅
price > AVC
2
, Quiz_________________?
a foreign exchange transaction where one currency is converted into another -
Answer✅
currency swap
Quiz_________________?
a high degree of resource similarity but low market commonality = _______ intensity of
rivalry -
Answer✅
highest
Quiz_________________?
a market with only a few sellers offering similar or identical products -
Answer✅
oligopoly
Quiz_________________?
a means of spreading out activities in different currency zones in order to offset the
currency losses in certain regions through gains in other regions -
Answer✅
strategic heding
Quiz_________________?
3
, a method used to restrict international trade by taxing imported goods -
Answer✅
tariff
Quiz_________________?
A nation ends a tariff on bananas, which is an imported product. What will be the effect on
banana prices within that nation? -
Answer✅
the market price will match the global market price
Quiz_________________?
a non equity arrangement for a company contemplating entry into a foreign market -
Answer✅
licensing
Quiz_________________?
a piece of analysis that shows the combination of goods the consumer can afford given their
income and price of goods -
Answer✅
budget constraint
Quiz_________________?
a seller maximize profits in a perfectly competitive market by producing -
Answer✅
the quantity where P = MC
4
________ indifference curves are preferred to ______ ones -
Answer✅
higher, lower
Quiz_________________?
4 components of GDP -
Answer✅
1. consumption
2. investment
3. government purchases
4. net exports (exports minus imports)
Quiz_________________?
a change in price will cause a large change in the quantity demanded -
Answer✅
elastic
1
, Quiz_________________?
a change in price will not cause a large change in the quantity demanded -
Answer✅
inelastic
Quiz_________________?
a competitive firms demand curve is ______ elastic than a monopoly's demand curve -
Answer✅
more
Quiz_________________?
a curve that represents a consumers preferences -
Answer✅
indifference curve
Quiz_________________?
a firm is a sole seller of a product with no close substitutes -
Answer✅
monopoly
Quiz_________________?
a firm will produce the quantity where MR = MC as long as ________ -
Answer✅
price > AVC
2
, Quiz_________________?
a foreign exchange transaction where one currency is converted into another -
Answer✅
currency swap
Quiz_________________?
a high degree of resource similarity but low market commonality = _______ intensity of
rivalry -
Answer✅
highest
Quiz_________________?
a market with only a few sellers offering similar or identical products -
Answer✅
oligopoly
Quiz_________________?
a means of spreading out activities in different currency zones in order to offset the
currency losses in certain regions through gains in other regions -
Answer✅
strategic heding
Quiz_________________?
3
, a method used to restrict international trade by taxing imported goods -
Answer✅
tariff
Quiz_________________?
A nation ends a tariff on bananas, which is an imported product. What will be the effect on
banana prices within that nation? -
Answer✅
the market price will match the global market price
Quiz_________________?
a non equity arrangement for a company contemplating entry into a foreign market -
Answer✅
licensing
Quiz_________________?
a piece of analysis that shows the combination of goods the consumer can afford given their
income and price of goods -
Answer✅
budget constraint
Quiz_________________?
a seller maximize profits in a perfectly competitive market by producing -
Answer✅
the quantity where P = MC
4
