Clicker_Qs - Practice Clicker Question Please indicate...

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Practice Clicker Question Please indicate which of the following  statements you most agree with: A) Free trade exports U.S. jobs to foreigners B) The U.S. should try to become self-sufficient C) If Americans were more productive there would  be no need for imports D) The U.S. only imports items that it can’t  produce itself E) The U.S. should eliminate trade barriers and  quotas, and work to expand free trade.
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Clicker Question #1 Which of the following are key characteristics of theories? A) Simple; General; Useful B) Cheap; General; Correct C) Testable; Simple; Cheap D) Useful; Simple; Testable E) Cheap; Testable; Correct
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Clicker Question #2 Ithaca can produce at most 1000 pairs of  sandals, OR 100 tons of tofu, or any linear  combination of these two goods.  What is  Ithaca’s opportunity cost of one pair of  sandals? A) 10 pairs of sandals B) 10 tons of tofu C) 1/10 pairs of sandals D) 1/10 tons of tofu E) None of the above
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Clicker Question #3 The following table gives marginal value (MV) for each T-shirt  purchased.  If the price per T-shirt is $10, what will be the  consumer surplus from T-shirts? T-shirt MV    1 $30    2 $20    3 $15    4 $10    5 $5 A) $10 B) $35 C) $40 D) $75 E) None of the above
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Clicker Question #4 The following table presents the marginal cost (MC) of each ton of gold  produced and sold.  If the price of a ton of gold is $25 million, what will  be the producer surplus? Ton MC   1 $10 million   2 $15 million   3 $20 million   4 $25 million   5 $30 million   6 $35 million a)  Uncertain given the information provided b)  $25 million c)  $70 million d)  $100 million e)  None of the above
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Clicker Question #5 Since tobacco is an inferior good, as incomes increase  which of the following occur in the tobacco market? a)  Prices increase and equilibrium quantity increases b)  Demand decreases and supply decreases c)  Prices decrease and quantity supplied decreases d)  Prices decrease and quantity demanded decreases e)  Demand increases and quantity supplied increases
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Clicker Question #6
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This note was uploaded on 04/16/2009 for the course ECON 110 taught by Professor Abowd during the Fall '08 term at Cornell University (Engineering School).

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Clicker_Qs - Practice Clicker Question Please indicate...

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