We call a market where there is only one producer of a good or service a monopoly.
Answer the following statement true (T) or false (F)
True
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If a nation opens up to free trade and becomes an importer of goods, which of the following is then true?
A) The nation as a whole loses. B) Sellers gain. C) Buyers gain. D) Buyers lose.
Does the presence in the real world of intraindustry trade prove or disprove the classical or Heckscher-Ohlin models? Explain
What will be an ideal response?
The primary macroeconomic cost of unemployment is
a. higher prices b. lost leisure time c. lost output d. domestic violence e. mental illness (e.g., depression)
According to supply-side theory, which of the following would cause a leftward shift in the aggregate supply curve?
A. Eliminating excessive government regulation. B. Reducing the minimum wage. C. Increasing government regulations. D. Reducing discrimination in employment.