A balance-of-trade deficit exists if
A. the dollar value of exports exceeds the dollar value of imports.
B. the dollar value of imports exceeds the dollar value of exports.
C. money outflows exceed money inflows.
D. money inflows exceed money outflows.
B. the dollar value of imports exceeds the dollar value of exports.
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"Price gouging," or significant price spikes, are typical caused by
A) a significant increase in consumer demand. B) a significant increase in supplier greed. C) government attempts to impose price caps. D) no systematic relationship between supply and demand.
Generally, any human decision is
A) speculative. B) perfectly informed. C) irrational at its base. D) good.
Legislation designed to regulate natural monopolies would be based on which theory of regulation?
A. Social B. Legal cartel C. Public interest D. Price fixing
Use the data in the table below to answer the following question.PriceQuantity Demanded$201218171620142412301036840644448The price elasticity of demand (based on the midpoint formula) when price decreases from $16 to $14 is
A. -3.29. B. -1.37. C. -0.33. D. -1.