Perfect price discrimination would eliminate consumer _________________.
Fill in the blank(s) with the appropriate word(s).
surplus
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Use the following table for Country X to answer the next question. Column 1 of the table is the world price of a product, Column 2 is the quantity demanded domestically (Qdd), and Column 3 is the quantity supplied domestically (Qsd). Assume the small-country model is applicable.PriceQddQsd$5.002004004.002503503.003003002.003502501.00400200If Country X opens itself up to international trade, at what world price will it begin importing some units of the product?
A. Any price above $3.00 B. Any price below $3.00 C. Any price below $5.00 D. Any price above $5.00
Which of the following is NOT a result of a permanent fall in foreign demand on one country's exports under floating exchange rate?
A) The DD curve shifts to the left due to reduction of aggregate demand. B) The AA curve shifts upwards due to the increased expected long-run exchange rate. C) a reduction in output by a smaller degree compared to temporary fall in demand D) depreciation in home country's currency E) a raised level of unemployment
A nation's production possibilities curve [PPC] will shift outward if its workers receive better training
a. True b. False Indicate whether the statement is true or false
Prime Minister Emma Bigshot urges passage of a bill to reduce unemployment benefits from very generous levels in her country. She also urges her country's central bank to raise the rate at which the money supply is increasing. In the long run which, if either, of these policies will reduce the unemployment rate?
a. both reducing the generosity of unemployment benefits and raising the rate at which the money supply is increasing b. reducing the generosity of unemployment benefits but not raising the rate at which the money supply is increasing c. raising the rate at which the money supply is increasing, but not reducing the generosity of unemployment benefits d. neither reducing the generosity of unemployment benefits nor raising the rate at which the money supply is increasing