Use the following graph showing the domestic demand and supply curves for a specific product in a hypothetical nation called Marketopia to answer the next question.
If the world price for this product is $2.00, then Marketopia will
A. import 200 units.
B. import 400 units.
C. export 200 units.
D. export 400 units.
Answer: C
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A distinguishing characteristic of public transfer payments is that they ________.
A. involve no contribution to current production in return for the payment B. include the cost of maintaining public parks C. are counted as part of government purchases in the calculation of the gross domestic product D. include wages to government workers
In the traditional Keynesian model, an income tax cut raises real GDP because
A) consumption spending depends positively on after-tax income. B) of the crowding-out effects of taxes. C) consumption spending depends negatively on after-tax income. D) consumption spending is not related to after-tax income.
The Justinian code:
a. Summarized the laws of Greece b. Was the first example of common law c. Codified the laws of the Roman Empire d. Were written by Justinian himself e. Both c and c are correct
An individual would suffer lower losses or maybe even gain from an unexpectedly higher inflation rate if
a. she held much currency and on net was a lender. b. she held much currency and on net was a borrower. c. she held little currency and on net was a lender. d. she held little currency and on net was a borrower.