Refer to the table below. At what price will Country Y export 100 units of the product?
Use the following table to answer the question below for Country Y. Column 1 is the price of a product. Column 2 is the quantity demanded domestically (Qdd) and Column 3 is the quantity supplied domestically (Qsd).
A. $9.00
B. $8.00
C. $7.00
D. $6.00
B. $8.00
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Within the framework of the Keynesian model, which of the following would most likely occur if the federal government increased its spending and enlarged the size of the budget deficit during a period of full employment?
a. The rate of inflation would decline. b. The rate of inflation would rise. c. A recession would develop. d. Interest rates would fall.
What type of economic system is commonly described as being controlled by an "invisible hand"?
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