If in the long run, any government policy that increases exports
A) also increases imports.
B) decreases imports.
C) has no impact on imports.
D) makes imports become negative.
A
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Which of the following statements about U.S. international trade in 2013 is CORRECT?
A) The value of U.S. exports exceeded the value of U.S. imports. B) The value of U.S. exports was about 33 percent of the value of total U.S. production. C) The United States imported only goods. D) The United States was the world's largest trader.
A monopoly firm is different from a competitive firm in that:
A. a monopolist's demand curve is perfectly inelastic whereas a competitive firm's demand curve is perfectly elastic. B. a monopolist can influence market price whereas a competitive firm cannot. C. there are many substitutes for a monopolist's product whereas there are no substitutes for a competitive firm's product. D. a competitive firm has a U-shaped average cost curve whereas a monopolist does not.
Economic cost is always less than accounting cost.
Answer the following statement true (T) or false (F)
Explain the difference between gross domestic product and gross national product. Give an example of each
What will be an ideal response?