Which of the following is true?
A. The Japanese rebuilt their economy after World War II by selling its goods to their own rapidly growing population.
B. Slow U.S. population growth in the 19th century forced American farmers and manufacturers to seek foreign markets to propel its rapid economic growth.
C. The Japanese rebuilt their economy after World War II by targeting the large U.S. market, while their own market remained largely closed to U.S. manufactured goods.
D. America's rapid population growth in the 19th century slowed its economic growth rate.
C. The Japanese rebuilt their economy after World War II by targeting the large U.S. market, while their own market remained largely closed to U.S. manufactured goods.
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In the above figure, the unregulated, competitive market equilibrium is tuition of ________ and the equilibrium quantity is ________ students in college
A) $18,000; 30 million B) $12,000; 40 million C) $6,000; 50 million D) $18,000; 50 million
In a move to free the economy from unnecessary regulation, Congress decides to remove sugar price supports. What would most likely happen to the number of producers of sugar?
a. It would decrease, because sugar prices would fall. b. It would decrease, because sugar prices would rise. c. It would increase, because sugar prices would fall. d. It would increase, because sugar prices would rise.
When an inflationary gap exists, the job prospects of new college graduates are
a. very dim. b. somewhat encouraging. c. worse in comparison to a recessionary gap. d. excellent.
Suppose the price you are willing to pay for a new car is greater than the marginal cost of producing that new car. Under which market structure could you be most confident that you would be able to buy that new car?
A. Perfect competition B. Oligopoly C. Monopoly D. Monopolistic competition