Refer to Figure 9-4. Under autarky, the producer surplus is area
A) S + V. B) S + T + V + W + X. C) V. D) T + W+ X.
A
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Which of the following statements is false?
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According to international trade theory, a country can gain
a. if it protects domestic industries from low-wage foreign producers. b. only if the trade harms its trading partners. c. by importing goods when they can be obtained more economically from foreign producers. d. if it maximizes the employment in domestic industries that face competition from foreign producers who have lower costs.
Which of the following contributed to the increase in the national debt during the 1990s?
A. A decrease in military expenditures. B. The bailout of failed savings and loan associations. C. A decrease in discretionary spending. D. A period of inflation.