When a price-taking country joins the global market for some good, it:
A. shifts the world demand and supply to the right.
B. has a negligible effect on the world equilibrium.
C. shifts the world demand and supply to the left.
D. shifts the world demand to the right, and the world supply to the left.
B. has a negligible effect on the world equilibrium.
You might also like to view...
In the above figure, what is the price the firm receives if the output is 8?
A) $10 B) $2 C) $7 D) $8
Adam Smith was the author of the 1776 book An Inquiry into the Nature and Causes of the Wealth of Nations
a. True b. False Indicate whether the statement is true or false
Which statement accurately compares government purchases and net exports in terms of their impacts on aggregate demand?
a. The impact of government purchases is much larger than the impact of net exports. b. The impact of government purchases is similar to the impact of net exports. c. Neither government purchases nor net exports have an impact. d. The impact of government purchases is much smaller than the impact of net exports.
In 2017 about 28% of personal income in the United States came from
A. profits. B. wages and salaries. C. transfer payments. D. property income.