A. has no intrinsic value
B. has intrinsic value
C. is used exclusively in the economies of western Europe and north America
D. is used as reserves to back fiat money
A. Brl
B. Bel
C. Bbl
D. Obl
A. the monopolist faces a downward-slog demand curve while the monopolistic competitor faces an elastic demand curve
B. the monopolist charges a price above marginal cost while the monopolistic competitor charges a price equal to marginal cost
C. The monopolist makes economic profits in the long run while the monopolistic competitor makes zero economic profits in the long run
D. Both the monopolist and the monopolistic competitor operate at the efficient scale
A. 7.2%
B. 6.5%
C. 5.6%
D. 6.7%
A. variable, technology
B. fixed, expectations
C. fixed, rental rate of capital
D. variable, interest rates
A. bilateral tariff reductions to promote trade liberalization
B. the use of the most-favored nation clause (normal trade relations)
C. nondiscrimination in trading relationships
D. the prohibition of import quotas and export quotas
A. Canada
B. Mexico
C. China
D. North Korea