Refer to the following graph.
If this country is producing between point P and G, it will gain by ________ its production of good A and importing more ________.
A. decreasing; good A
B. decreasing; good B
C. increasing; good B
D. increasing; good A
Answer: C
You might also like to view...
The value of final goods and services equals:
A. total business profits. B. the sum of revenues from all sales. C. total business spending. D. the sum of the value added by all firms.
In an "underground economy," the production of goods and services
A) is usually too insignificant to be included in GDP. B) is not measured but is included in GDP. C) is measured and included in GDP. D) is not measured or included in GDP.
In a market economy, the real power in the market place is held by the
a. producer b. seller c. government d. consumer
The nominal interest rate is the sum of the
A. real interest rate and the historic rate of inflation. B. real interest rate and the expected rate of inflation. C. historic rate of inflation and the expected rate of inflation. D. expected rate of inflation and the rate of price level increase.