Governments can make trading easier and more beneficial by:
A. setting quotas.
B. limiting private restrictions on trade.
C. providing merit goods.
D. establishing externalities.
Answer: B
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Using the above figure, during which of the following periods does the price of crude oil have a downward trend?
A) May to July B) May to November C) July to October D) October to December
At a short-run macroeconomic equilibrium, real GDP is always equal to potential GDP
Indicate whether the statement is true or false
Refer to Table 8.1. The maximum profit available to the firm is
A) $20. B) $30. C) $35. D) $155. E) $180.
Refer to Figure 35.5. If S1 represents the U.S. domestic supply of a good and S2 represents supply in the United States under conditions of free trade, what does S3 most likely represent?
A. U.S. supply under tariff-restricted trade. B. Production possibilities under conditions of free trade. C. U.S. supply under quota-restricted trade. D. The result of a foreign country dumping this good on the U.S. market.