If a country is a net importer of a good, the price of that good will ________ when the economy goes from closed to open for trade.
A. increase
B. decrease
C. stay the same
D. first increase then decrease
Answer: B
Economics
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If the price of gasoline increases significantly, then we'd expect the demand curve for large hybrid and electric cars to
A. not shift, but there will be a movement along that demand curve. B. shift to the right. C. shift to the left. D. become upward-sloping.
Economics
Draw a graph of AVC, ATC, and MC.
Economics
The reasons behind this decline in employment could be all of the following except
What will be an ideal response?
Economics
Suppose an economy’s real GDP is $125 billion in year 1 and $130 billion in year 2. What is the growth rate of its GDP?
What will be an ideal response?
Economics