According to the graph shown, if this economy were open to free trade, domestic consumers would consume how many units?
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 45
B. 85
C. 120
D. 75
A. 45
You might also like to view...
The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Unplanned inventory changes equal $50 billion when real GDP equals
A) $800 billion. B) $900 billion. C) $500 billion. D) $300 billion. E) $700 billion.
Health care costs rose more than 10 percent in 2011, according to a survey of insurers by Aon Consulting Worldwide. If the increase in costs solely comes from increased wages to nurses and doctors, then for the health care industry
A) variable costs are increasing. B) fixed costs are increasing. C) long run average total cost is decreasing. D) productivity is increasing.
During the Cold War era, the U.S.:
A. gave foreign aid to promote their communistic support. B. gave foreign aid, while the Russians demanded reparations from many of the same countries. C. gave foreign aid to prevent the spread of communism, while Russia did the same in an effort to align countries with the Communist bloc. D. did not engage in any foreign aid because of the severe cost of fighting the war.
If consumption equals 10, investment equals 8, government purchases equal 7, exports equal 5 and imports equal 3, what is the GDP?
a. 11 b. 13 c. 25 d. 27