A market survey conducted by an electronics manufacturer reported a year on year growth in the sale of television sets, along with an increase in the selling price. Which of the following could be a likely cause for this situation?
a. A decrease in supply
b. An increase in demand
c. A decrease in demand
d. An exception to the law of demand
e. An increase in supply
b
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Countries like the United States use ________ to offset foreign export subsidies
A) quotas B) the escape clause C) countervailing duties D) government procurement
The supply curve for a monopolist
A. is vertical. B. does not exist. C. is downward sloping. D. is upward sloping.
(Last Word) In a cap-and-trade program:
A. government fixes the price of pollution rights and firms choose how many permits to purchase. B. government fixes the maximum amount of a pollutant that firms can discharge and issues permits that firms can buy from and sell to each other. C. each firm is provided a fixed number of permits for a particular pollutant and no individual firm is allowed to acquire additional permits. D. firms can emit whatever type of pollutant they want, so long as the total tonnage does not exceed a government-established quantity.
If GDP exceeds GNP, we know with certainty that
A) a budget deficit exists. B) a trade surplus exists. C) a trade deficit exists. D) receipts of factor income from the rest of the world exceed payments of factor income to the rest of the world.