A company in Panama pays for a U.S. architect to design a factory building. By itself this transaction
a. increases U.S. exports and so increases the U.S. trade balance.
b. increases U.S. exports and so decreases the U.S. trade balance.
c. increases U.S. imports and so increases the U.S. trade balance.
d. increases U.S. imports and so decreases the U.S. trade balance.
a
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A price floor is:
a. the lowest price a producer will accept. b. the lowest price a consumer will pay. c. a minimum price set by the government above equilibrium price. d. a maximum price set by the government above equilibrium price e. usually set equal to equilibrium price.
Profit can be earned by buying _____________ and selling ____________________
A) at one price; at the same price B) low; high C) high: low D) none of the above
Which of the following involves emphasizing product qualities to develop a product identity?
a. product entry b. product allocation c. product differentiation d. product homogeneity
Organic pollution does not represent an external cost.
Answer the following statement true (T) or false (F)