As a result of international trade,
a. the gain to producers in the importing country exceeds the loss to consumers in the importing country
b. the loss to producers in the importing country is less than the gain to consumers in the importing country caused by a decrease in price
c. the loss to producers in the importing country exceeds the gain to consumers in the importing country caused by an increase in price
d. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price increases and equilibrium quantity decreases
e. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price decreases and equilibrium quantity increases
B
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According to the quantity theory of money, money growth and inflation are
A) positively correlated. B) negatively correlated. C) independent, that is, not correlated. D) positively correlated if the inflation rate is positive and negatively correlated if the inflation rate is negative.
Before summer 2008, if you wanted a cell phone in Bhutan, you only had one choice: B-Mobile, owned and operated by the government. Then, this past spring, a privately owned competitor, Tashi, was let in
What do you predict will happen to equilibrium price and quantity in the cell phone market? A) Price will decrease and quantity will increase. B) Price will increase and quantity will decrease. C) Both price and quantity will increase. D) Both price and quantity will decrease.
Figure 11-3
In Figure 11-3, which of the following is true, whether or not the monopolist is maximizing profits?
A. MR < P. B. MC = P. C. MC < AC. D. MR = P.
In the market for labor, the monopsonist is the sole:
A. buyer and can keep wages up, above the competitive wage. B. seller and can push wages down, below the competitive wage. C. buyer and can push wages down, below the competitive wage. D. seller and can keep wages up, above the competitive wage.