In the above figure, assuming Firm 1 and Firm 2 are the sole producers in the industry, the industry quantity supplied at price P1 is equal to
A) Q1 + Q2.
B) Q1 + Q3.
C) Q2 + Q4.
D) Q4 - Q2.
C
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An increase in the money supply will appreciate a country's currency
Indicate whether the statement is true or false
Even when earning zero profit, exporters (nearly) equalize prices across markets. ?
Answer the following statement true (T) or false (F)
The "New Keynesian" macroeconomics centered on
A) the assumption of continuous market-clearing. B) the importance of technological shocks. C) the imperfectness of the information held by economic decision-makers. D) the rational reasons for slow price and wage adjustment.
We know that industrial countries tend to trade with other industrial countries. This pattern counters the:
a. preference theory of comparative advantage. b. factor abundance theory of comparative advantage. c. concept of intraindustry trade. d. product life cycle theory of comparative advantage. e. human skills theory of comparative advantage.