At least two demand curves are present in an international equilibrium model
a. True
b. False
Indicate whether the statement is true or false
True
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As a result of firms leaving the perfectly competitive frozen yogurt market in the early 2000s, the market
A) supply curve shifted leftward. B) supply curve did not change. C) demand curve shifted rightward. D) supply curve shifted rightward. E) demand curve shifted leftward.
Refer to the figure above. How many chairs were imported by Lithasia before the tariff was imposed by the government?
A) 25 units B) 50 units C) 55 units D) 60 units
Which of the following is a long-run adjustment?
a. A new economics professor is hired on campus. b. General Motors increases its orders for steel. c. Microsoft cuts back its hiring of new graduates. d. Glow Electric disassembles one of its nuclear power plants. e. Texaco buys more crude oil to refine into gasoline.
Increases in import spending _____________________, ceteris paribus
A) raise GDP B) lower GDP C) are always equal to decreases in exports D) may raise or lower GDP