A trade surplus occurs when:
A. exports exceed imports, so that a country is producing more than it is consuming.
B. imports exceed exports, so that a country is producing more than it is consuming.
C. imports exceed exports, so that a country is consuming more than it is producing.
D. exports exceed imports, so that a country is consuming more than it is producing.
Answer: A
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If Country A can produce an extra plane by giving up two boats, and Country B can produce an extra plane by giving up three boats, then
A) Country A has an absolute advantage in producing planes and a comparative advantage in producing boats. B) The two countries have no incentive to trade with one another. C) Country A would like to trade with B, but B cannot gain by trading with A. D) Country B has a comparative advantage over Country A in the production of planes. E) Country A has a comparative advantage over Country B in the production of planes.
If the natural monopoly shown in the figure above is unregulated, then it will charge a price of
A) $2. B) $4. C) $5. D) $6.
An effective price ceiling causes a loss of
A) producer surplus for certain and possibly consumer surplus as well. B) consumer surplus only. C) producer surplus only. D) consumer surplus for certain and possibly producer surplus as well. E) neither producer nor consumer surplus.
When a corporation wishes to issue shares of stock, it will do so by working through
A. the New York Stock Exchange. B. a commercial bank. C. an investment bank. D. a stock broker.