If the equilibrium price of a good increases and the equilibrium quantity of the good decreases, we can conclude that:
A. demand increased.
B. demand decreased.
C. supply increased.
D. supply decreased.
Answer: D
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Two arguments used to promote trade barriers are the infant-industry argument, and the dumping argument. Explain each of these arguments and evaluate whether each one has any flaws
What will be an ideal response?
By 2009, the percentage of the U.S. labor force employed in agriculture was:
a. 1.1 percent. b. between 2and 5percent. c. about 10 percent. d. 3percent.
The record for the longest U.S. economic expansion started in March ______ and ended in March ______.
Fill in the blank(s) with the appropriate word(s).
The conclusion that international trade will lead to an increase in real earnings of a country's abundant resource is known as:
a. factorintensity reversal. b. the HeckscherOhlin model. c. Riparian comparative advantage. d. the StolperSamuelson theorem.