Other things equal, when Europeans want to buy more grains from the United States:
a. U.S. imports will increase.
b. European exports will increase at every level of domestic income.
c. U.S. exports will increase at every level of domestic income.
d. the U.S. balance of payments will show a deficit.
e. U.S. consumption spending will fall.
c
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Refer to Monopoly Problem. This monopoly will produce
Consider a monopoly with constant marginal costs of $20. Consumers in the market for this monopoly’s product have demand of Q = 100 - 2P. a. 20 units. b. 30 units. c. 40 units. d. 60 units.
Suppose that the firms in an oligopolistic industry successfully collude. What will be the outcome? Explain
What will be an ideal response?
If an increase in the price of good X leads to a decrease in the demand for good Y, then:
A. good X and good Y are substitutes. B. good X and good Y are normal goods. C. good X and good Y are complements. D. good X is a normal good and good Y is an inferior good.
Suppose a student graduates from college with a civil engineering degree and is now employed to grade papers, answer the phone, and make copies-tasks that are below the graduate's capabilities. The graduate can best be classified as
A. Phantom unemployed. B. A discouraged worker. C. Structurally unemployed. D. Underemployed.