Since 1950, the volume of world trade and the volume of world real GDP
A. have both increased, but the volume of world trade has increased faster than the volume of world real GDP.
B. have both decreased at roughly the same rate.
C. have both increased at roughly the same rate.
D. have both increased, but the volume of world trade has increased more slowly than the volume of world real GDP.
Answer: A
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a. A short run market equilibrium price higher than the original equilibrium b. A market equilibrium lower than the short run price c. Entry of new firms into the market d. All of the above
The increase in income in response to a fiscal expansion in the IS-LM is:
What will be an ideal response?
In Figure 24.2, a profit-maximizing monopolist will charge a price of
A. $6.40. B. $5.50. C. $4.70. D. $4.00.
Emissions permits allow polluters to pay for the right to pollute a specified amount.
Answer the following statement true (T) or false (F)