Refer to the figure above. Imports for this country equal
A) OA units of Z.
B) AB units of Z.
C) AC units of Y.
D) AD units of Y.
D
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Developing countries might be unable to respond smoothly to changing international price signals because of
(a) a lack of government regulation. (b) an abundance of skilled labor. (c) inelastic supply curves. (d) limited foreign exchange.
The CPI overestimates inflation because
a. it often ignores the invention of new goods. b. it always includes discount stores. c. it allows substitution from more expensive goods to cheaper goods. d. all of the above.
Branding allows monopolistically competitive firms to:
a. achieve allocative efficiency b. increase demand and profits. c. produce at the lowest marginal cost. d. achieve productive efficiency.
The earned income tax credit (EITC) has been a successful anti-poverty policy by encouraging participation in the workforce.
Answer the following statement true (T) or false (F)