For a single country to influence the price of some good in the global market:
A. it must be considered a price taker.
B. the quantity it produces and consumes must be small relative to the total amount of that good bought and sold worldwide.
C. the quantity it produces and consumes must be large relative to the total amount of that good bought and sold worldwide.
D. the country must be large relative to other nations in the world
C. the quantity it produces and consumes must be large relative to the total amount of that good bought and sold worldwide.
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In the figure above, a decrease in the monetary base would create a change such as a
A) movement from point a to point b along the supply of money curve MS0. B) movement from point b to point a along the supply of money curve MS0. C) shift from the supply of money curve MS0 to the supply of money curve MS1. D) shift from the supply of money curve MS1 to the supply of money curve MS0.
A country's financial account balance decreases if
A) its current account balance increases. B) its income payment inflows on foreign assets decrease. C) its domestic residents working abroad reduce the income they send home to their families. D) foreigners increase their purchases of its existing assets.
A minimum wage law may cause unemployment among low-skill workers
a. True b. False Indicate whether the statement is true or false
The concept of "government failure" implies
a. laissez faire is always best. b. government intervention is always justified since government never fails. c. no market failure can be corrected by government intervention. d. government intervention to correct a "market failure" sometimes fails.