International trade currently involves about ______________ worth of goods and services thundering around the globe.
a. $200 billion
b. $20 trillion
c. $200 trillion
d. $2 trillion
Ans: b. $20 trillion
Economics
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An efficient allocation of resources is reached in the figure above when output equals
A) 1 million. B) 2 million. C) 3 million. D) 4 million.
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The optimal searcher is likely to not even attempt to secure perfect information even if it is possible to achieve it
a. True b. False
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A decrease in aggregate supply will cause the price level to:
a. rise and GDP to fall. b. rise and GDP to rise. c. rise and the unemployment rate to fall. d. fall and GDP to rise. e. fall and the unemployment rate to rise.
Economics