If the world supply curve is SW0,
A. there is a trade deficit.
B. trade is in balance.
C. there is a trade surplus.
D. there is no trade.
Answer: B
You might also like to view...
Refer to above figure. What would be the cost of the subsidy to European taxpayers?
What will be an ideal response?
Which of the following is true of lags associated with discretionary policy?
a. Such lags extend only from the time a problem occurs in the economy through the time it is recognized by the government. b. Such lags extend only from the time a problem is recognized by the government through the time an agreed-on policy is approved of. c. Such lags extend only from the time a policy is approved through the time the policy is implemented. d. Such lags can be reduced by taxation. e. Such lags extend only from the time a problem occurs in the economy through the time a corrective policy has an impact on the economy.
Negative externalities result in unfair, excessively high prices
a. True b. False Indicate whether the statement is true or false
When a firm experiences declining long-run average total costs as it produces more output, it is known as a(n)
A. natural monopoly. B. rent seeker. C. monopolistic competitor. D. oligopoly.