If the world price of a good is equal to its no-trade equilibrium price, the country will import more of the good from other nations
a. True
b. False
Indicate whether the statement is true or false
False
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A decrease in demand and an increase in supply will
A. affect price in an indeterminate way and decrease the equilibrium quantity. B. decrease price and affect the equilibrium quantity in an indeterminate way. C. decrease price and increase the equilibrium quantity. D. increase price and affect the equilibrium quantity in an indeterminate way.
The social interest theory of regulation asserts that regulation
A) seeks an efficient use of resources. B) is aimed at keeping prices as low as possible. C) helps firms maximize economic profit. D) of a natural monopoly must be done using rate of return regulation. E) does not work for society as well as would allowing the firms freedom from regulation.
The two types of open market operations are
A) offensive and defensive. B) dynamic and reactionary. C) active and passive. D) dynamic and defensive.
Which nation listed below is successfully transitioning from a planned economy to a hybrid market economy?
A. People’s Republic of China B. Japan C. United Kingdom D. United States