In the early 1960s and early 1970s, the United States has run
a. small trade deficits.
b. large trade surpluses.
c. small trade surpluses.
d. large trade deficits.
c. small trade surpluses.
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Tomas wants the city to convert a portion of an existing public park to a covered bus stop so it is more convenient to catch a bus to work each day
Michelle wants the city to expand the park so the neighborhood kids have an even larger place to play outside. In this situation, A) Tomas is the villain and Michelle is the victim. B) Michelle should get her way because a larger park is more important than a covered bus sto
Although foreign exchange market trades are said to involve the buying and selling of currencies, most trades involve the buying and selling of
A) bank deposits denominated in different currencies. B) SDRs. C) gold. D) ECUs.
If the market price falls from P0 to P1 in the above figure, then
A) a new equilibrium quantity is established. B) there is a shortage equal to the distance EF. C) there will be a further tendency for price to fall. D) there is a surplus of goods on the market equal to the distance Q1, Q2.
Figure 10-4
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Figure 10-4 shows the industry’s supply and demand curves in panel (1) and the cost curves of a firm in the industry in panel (2). At S1, the firm is
A. preparing to shut down. B. incurring losses. C. earning zero economic profits. D. earning economic profit greater than zero.