We have run merchandise trade deficits of over $70 billion since
A. 1963.
B. 1969.
C. 1973.
D. 1983.
D. 1983.
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In which of the following markets do firms sell the same standardized product?
A. Four-door cars B. Desktop computers C. 2% milk D. Sandwiches
Which of the following environmental approaches is most appropriate when surveillance and enforcement is impractical?
a. direct controls b. emissions tax c. volunteerism d. tradable emission permits
A decrease in total revenue will result if
A. demand is elastic and price decreases. B. demand is unitary elastic and price decreases. C. demand is inelastic and price increases. D. demand is elastic and price increases.
Assume Gloria is initially in equilibrium and that X and Y are normal goods for her. Then the price of X falls. For Gloria to move to a new equilibrium point her consumption of
A. X must decrease. B. X must remain constant, but her consumption of Y must decrease. C. X must increase. D. both X and Y must decrease.