China runs a current account surplus with the United States. Which of the following must be true about China's balance of payments with the United States?
A) It must run a financial account deficit. B) Its net exports must be negative.
C) Its balance of trade must be in deficit. D) Its balance of payments must run a deficit.
A
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In the above figure, when the firm produces output corresponding to point c, the firm's marginal cost
A) is less than its marginal revenue. B) equals its marginal revenue. C) exceeds its marginal revenue. D) equals its average revenue.
Which of the following is an antidumping argument in favor of restrictions on foreign trade? a. Foreign producers must be prevented from exporting their goods below cost of production
b. Domestic workers must be protected from the lower wages paid in foreign countries. c. The nation's security demands we ensure an adequate domestic supply of certain strategic goods. d. Do unto others as they do unto you. e. Industries in the early stages of development must be protected from more mature producers.
In a December 2007 New York Times column, Paul Krugman noted that
a. it is difficult to find instances of trade between high-wage countries in the modern era. b. it is difficult to find instances of trade between high-wage countries and low-wage countries in the modern era. c. the United States now imports more oil and other raw materials from other advanced countries than from the third world. d. the United States now imports more manufactured goods from the third world than from other advanced countries.
A change in which of the following would change the slope of line C?
a. demand
b. marginal propensity to consume
c. investment
d. disposable income