The above figure shows the U.S. market for flip-flops. With international trade, U.S. consumers buy ________ flip-flops and U.S. producers produce ________ flip-flops
A) 500,000; 500,000
B) 300,000; 700,000
C) 700,000; 500,000
D) 700,000; 300,000
E) 500,000; 300,000
D
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Arbitrage operations can be executed
A) in foreign exchange markets. B) in goods markets. C) Both A and B. D) None of the above.
The belief that bank failures were regularly caused by fraud or the lack of sufficient bank capital explains, in part, the passage of
A) the National Bank Charter Amendments of 1918. B) the Garn-St. Germain Act of 1982. C) the National Bank Act of 1863. D) Federal Reserve Act of 1913.
If the government were to simultaneously cut the personal income tax and the corporate profits tax, the equilibrium interest rate
A) would fall. B) would rise. C) would be unaffected. D) might either rise or fall.
Long-run equilibrium for a perfectly competitive industry occurs when:
A. P = MC = ATC. B. P = MC = AVC. C. P = MC = AFC. D. P > MC = ATC.