A country’s trade deficit is the excess of its imports over its exports.
Answer the following statement true (T) or false (F)
True
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For a perfectly competitive firm, the shutdown point is the
A) amount of output at which price equals minimum average variable cost. B) amount of output at which price equals minimum average total cost. C) price at which economic profit is zero. D) price at which total opportunity cost is zero.
By taking the short position on a futures contract of $100,000 at a price of 96 you are agreeing to ________ a ________ face value security for ________
A) sell; $100,000; $96,000. B) sell; $96,000; $100,000. C) buy; $100,000; $96,000. D) buy; $96,000; $100,000.
Suppose a good has a demand curve given by Q = 20 - 8 × P. What is the price elasticity of demand if the price is $2?
A. -4 B. -1/16 C. 1/2 D. -1/2
The law of comparative advantage implies that a nation, individual, or region should trade for those economic goods for which it
What will be an ideal response?