The world price of a good is determined by the
A. worldwide demand and supply of that good.
B. demand for that good in the world market.
C. supply of that good in the world market.
D. country that produces the good.
Answer: A
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If an increase of $5 billion in investment is associated with an increase of $25 billion in real Gross Domestic Product (GDP), the multiplier is
A) 1. B) 3. C) 5. D) 7.
What are the total profits if four units are produced? a. 40
b. 70. c. -30. d. 20.
If Tattling Tina tattles, what would Bratty Brenda's best response be
a. Hit b. Not hit c. Run d. Hide
If the government wants to reduce the burning of fossil fuels, it should impose a tax on
a. buyers of gasoline. b. sellers of gasoline. c. either buyers or sellers of gasoline. d. whichever side of the market is less elastic.