A country's trade balance
a. must be zero.
b. must be greater than zero.
c. is greater than zero only if exports are greater than imports.
d. is greater than zero only if imports are greater than exports.
c
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The range in which a duopoly's output falls is less than or equal to the output level in ________ and more than or equal to the output level in ________
A) monopolistic competition; monopoly B) monopolistic competition; perfect competition C) perfect competition; monopoly D) monopoly; monopolistic competition E) monopoly; perfect competition
The expansion of Social Security in 1956 added _____
a. cash benefits to surviving dependents b. disability insurance to those in the program c. medical benefits to those over 65 d. medical benefits to surviving dependents
Devaluation of a currency stimulates exports
Indicate whether the statement is true or false
A surplus means a(n):
A. excess demand for the product at the current price. B. situation where the current market price is too low. C. situation where the quantity demanded exceeds the quantity supplied. D. excess supply of the product at the current price.