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

Economics

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Refer to above figure. What would be the cost of the subsidy to European taxpayers?

What will be an ideal response?

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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.

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Negative externalities result in unfair, excessively high prices

a. True b. False Indicate whether the statement is true or false

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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.

Economics