Question

Country A has a mixed economy with free-market leanings. Country B has an absolute command economy. Both want to increase corn product exports. Which action would Country A most likely take that Country B would not?

Artificially lower the price of corn
Legislate higher production quotas
Lower taxes on corn farming
Impose stricter divisions of labor
@satellite73

Answer 1

What do you think it should be?

Answer 2

C? @Abhisar

Answer 3

@Abhisar ummm.. u there?

Answer 4

Yes, I am not very sure on this but I think since they need to increase corn exports they would have to to expand the production and hence legislating higher production quotas makes sense. Though I'll recommend you to cross check my answer with @satellite73

Answer 5

@satellite73 wat do u think?

Answer 6

i think C is a good choice

Answer 7

alright! i'll go with that then! @satellite73 thanks guys! @Abhisar

Answer 8

Which of the following is a potential benefit of inflation?

Higher unemployment
Higher prices
Less government revenue
More business profits
@satellite73

Answer 9

Np :-)

Answer 10

123 are not benefits
does is really say 'benefits"?

Answer 11

yeah lol potential benefit of inflation haha

Answer 12

i can only think of "more business profit" then since the others are not benefits and in any case "less government revenue" doesn't make sense here

Answer 13

so the answer is D?

Answer 14

that is my best guess

Answer 15

you have me out of my element here, but that is the only one of the four that can even be construed as a benefit

Answer 16

ok

Answer 17

ur right it is D

Answer 18

whew

Answer 19

Andy compares mattresses. A twin-sized NightSoft mattress at the large chain BuyRite costs $1,500. The BuyRite saleswoman tells Andy that the company's 24-hour customer service, free mattress cleaning, and 60-day return policies are the best in the business.

A similar twin-sized model, the DarkNights mattress, at the small store Joe's Bed and Linens, costs $1,495. The salesman at Joe's tells Andy that this store offers a 30-day money-back guarantee, plus free delivery.

Which of these is Andy experiencing?

Non-price competition in a monopolistically competitive market
Non-price competition in a purely competitive market
Price competition in a monopolistically competitive market
Price competition in a purely competitive market

Answer 20

it is definitely price competion since the prices are different

Answer 21

although not by much ...

Answer 22

so C or D?

Answer 23

i have no idea what a "monopolistic competitive market " is

Answer 24

a market structure in which many companies sell products that are similar but not identical

Answer 25

google to the rescue
The model of monopolistic competition describes a common market structure in which firms have many competitors, but each one sells a slightly different product.

Answer 26

that looks like a winner

Answer 27

hha why thank u!

Answer 28

so the answer would be C right?

Answer 29

i would not bet my next months paycheck on it, but i would bet a beer

Answer 30

lol D? hahahahahaha

Answer 31

no i would to with C seems like a set up for that one

Answer 32

this topic is pure speculation it seems

Answer 33

makes me appreciate math even more

Answer 34

hahahahhaahhahaa lol im not supposed to be laughing this hard at 1 am lol stop it! xD

Answer 35

A political map of the world displaying the levels of human development index HDI per country. Countries with a very high HDI include the United States, Canada, most of Europe, Japan, Australia and some Pacific islands, and several South American countries, including Argentina and Chile. Countries with a high HDI are largely in Central and South America, Russia, and the Middle East. Medium HDI includes India, China, and most of Southeast Asia, North and South Africa, and a few small countries in South America. Low HDI includes the majority of Africa, island nations in the Caribbean and Pacific, and a few countries in Central America and South Asia.
© Giro720 2011
Creative Commons Attribution-Share Alike 3.0 Unported

Look at the chart displaying the human development index (HDI) worldwide, which is linked to a high standard of living. Based on what you know about developing and developed countries in the world, which sentence is correct?

As HDI increases, so does a nation's level of development.
A low HDI usually means that an economy is developed.
The HDI varies less in countries below the equator than those above the equator.
The HDI is highest in countries with command economies.

Answer 36

4 is out

Answer 37

2 is out

Answer 38

i am guessing, without looking at the chart, that it is A

Answer 39

https://www.google.com/search?q=human+development+index+2013&tbm=isch&imgil=8sAiIlDVjn4PSM%253A%253BB5jexDdyi9tk9M%253Bhttp%25253A%25252F%25252Fdrrajivdesaimd.com%25252F%25253Fp%2525253D5002&source=iu&pf=m&tbs=simg:CAESqQEapgELEKjU2AQaBAgBCAoMCxCwjKcIGmAKXggDEiiiCr4TowrLCNQCsRPVArATtROMCLg38T6lK5sp7z7uPvMi3CnmN5o5GjAbNzEgmINflduvvcp78VjsC3tfz5MwMS66D7HzD3MgtbOlSGcDjx5RcerlFnoY1lgMCxCOrv4IGgoKCAgBEgS19RLvDAsQne3BCRoUCgcKBWJyYW5kCgkKB2RpYWdyYW0M&fir=8sAiIlDVjn4PSM%253A%252CB5jexDdyi9tk9M%252C_&usg=__jCQyhDSggAQsbIlxIk-W7C3axnE%3D&biw=1600&bih=799&ved=0CD0Qyjc&ei=V35yVbWbLIigyASaj4PoDw#imgrc=8sAiIlDVjn4PSM%253A%3BB5jexDdyi9tk9M%3Bhttp%253A%252F%252Fdrrajivdesaimd.com%252Fwp-content%252Fuploads%252F2013%252F08%252Fhuman-development-index.jpg%3Bhttp%253A%252F%252Fdrrajivdesaimd.com%252F%253Fp%253D5002%3B585%3B357

Answer 40

the map is in the link

Answer 41

sorry it wouldnt let me save it.. so had to look it up

Answer 42

yeah just go with A and moveon.org

Answer 43

lol IF I FAIL THE CLASS I SUE U!

Answer 44

you can take all my assets

Answer 45

if i die of lack of sleep, i will sue you back

Answer 46

hahaha

Answer 47

Graph titled Quantity Demanded versus Price, with x axis labeled in 10 unit increments from 0 to 70. Y axis is labeled with prices 0 to 60 dollars, in increments of 10. A blue line starts at 5, 50 and drops at an angle down to 60, 10.
© 2013 FLVS

Kelen wants to open a toy store. He buys the leftover stock of a store going out of business. He opens the boxes and counts the toys. There are 10 Nnedi action figures, 25 Ramez action figures, and 60 Slimeball action figures. Based on the graph, how should he set his prices?

Kelen should start with the same price for all action figures.
Nnedi action figures should be $10, Ramez $35, and Slimeball $50.
Nnedi action figures should be $42, Ramez $30, and Slimeball $10.
Nnedi action figures should be $60, Ramez $35, and Slimeball $1.

Answer 48

@satellite73 idk why its not letting me save the images anymore..

Answer 49

jeez this looks like some kind of puzzle

Answer 50

take a screen shot and post it

Answer 51

ok go on u know who

Answer 52

nvm found the image

Answer 53

http://assets.openstudy.com/updates/attachments/53ac8081e4b02c45b014b0c9-shelbsdaye-1403814043778-0606_g1.jpg

Answer 54

i honestly don't see how that graph tells you how to price each item

Answer 55

is it C?

Answer 56

oooh i see, i think you just have to read the graph

Answer 57

whatever you have 10 of, price at $45

Answer 58

or $42 i guess

Answer 59

yeah this one
Nnedi action figures should be $42, Ramez $30, and Slimeball $10.

Answer 60

YAAAYYY!!!!!

Answer 61

whew that was way way (way) easier than i thought
i must me a genius

Answer 62

hahaha UR!! economics is ur new thing noww!!!

Answer 63

Given the data in the chart, over which country does the United States have a comparative advantage in oil production?

Canada
Russia
Saudi Arabia
Venezuela

Answer 64

http://assets.openstudy.com/updates/attachments/53e8d57ce4b01789aba281f6-asevilla5-1407768070070-0606_g18.jpg

Answer 65

i seriously doubt saudi arabia or venezuela, because they have oil out the wazoo
chart would help

Answer 66

hahah the chart is in the link

Answer 67

i guess canada

Answer 68

did u see the link?

Answer 69

Auto Bull's-Eye offers a 10-minute oil change and 30-minute brake check. There are two technicians who perform each of these services. Next week, the shop is offering a discounted oil change. How might this affect the production possibilities curve for next week?

The shop would decrease the brake-check price to eliminate scarcity.
The shop would increase worker pay to make up for the opportunity cost of not doing brake checks.
The shop would shift production to oil changes and away from brake checks.
The shop would shift production to brake checks and away from oil changes.

Answer 70

this is like the forking sats

Answer 71

lol yup i HATE ECONOMICS!!! SO DUMB!

Answer 72

my guess
The shop would shift production to oil changes and away from brake checks.

Answer 73

just by process of elimination
the last one certainly doesn’t make sense

Answer 74

and neither do the first two

Answer 75

okay lol

Answer 76

4 minutes has increased to 6 not good

Answer 77

To protect consumers from potentially dangerous manufactured goods, the U.S. government is most likely to use which kind of trade barrier?

License
Quota
Regulation
Tariff

Answer 78

sorry sorry

Answer 79

not tarrif
not quota

Answer 80

google

Answer 81

my guess is "regulation" but it might be license

Answer 82

someone says license.. but idk

Answer 83

ok go with that then

Answer 84

no nvm its regulation!!

Answer 85

ok good that is my first guess for sure

Answer 86

hahaa yeahhh

Answer 87

Adam Smith's quotation would most likely be used to defend which of the following policies?

Higher taxation of corporate profits
Less stringent regulation of commerce
More subsidies for farmers
Stricter restrictions against monopolies

Answer 88

...

Answer 89

Adam Smith wrote in The Wealth of Nations, Book II, Chapter 2, In general, if any branch of trade, or any division of labour, be advantageous to the public, the freer and more general the competition, it will always be the more so.
© 2013 FLVS

Adam Smith's quotation would most likely be used to defend which of the following policies?

Higher taxation of corporate profits
Less stringent regulation of commerce
More subsidies for farmers
Stricter restrictions against monopolies

Answer 90

i would go with D because that is the one that restricts competition

Answer 91

tick tick tick...

Answer 92

FLVS??

Answer 93

sorry okay next one is this...

Answer 94

In 2011, Brazil had a GDP of $2.3 trillion and a per capita GDP of $11,800. A fifth of the population lived below the poverty line, and life expectancy was about 73 years. Which of these additional factors would most support the conclusion that Brazil is an emerging economy rather than a developing economy?

A poorly educated workforce
High social security costs
Rapidly increasing exports
Underdeveloped infrastructure

Answer 95

only C makes sense

Answer 96

well also maybe D...

Answer 97

A and B are out for sure