An American farmer buys an irrigation system from a Norwegian irrigation company based in Oslo. To Americans, the irrigation system is a(n)
A) import.
B) export.
C) quota.
D) tariff.
A
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Individual states engage in their own industrial policy, which can involve states competing with one another by offering special inducements to attract industry and jobs
Indicate whether the statement is true or false
The lack of investment in developing countries is at least in part attributable to:
A. high levels of foreign aid. B. low levels of domestic savings. C. inappropriate education. D. overpopulation.
An increase in the price of labor used to produce good A will lead to
A) an increase in the market clearing price of good A. B) an increase in the supply of good A. C) a decrease in the demand for good A. D) an increase in the demand for good A.
Refer to the graph shown. Assume that the market is initially in equilibrium at a price of $10 and a quantity of 500 units. In equilibrium, consumer surplus is equal to:
A. 1,500. B. 2,500. C. 5,000. D. 3,500.