If a country is a price taker for a good in the world market, ________
A) its consumption and production decisions of the good play a key role in determining world prices
B) its consumption and production decisions of the good do not affect world prices
C) its demand for the good remains the same irrespective of changes in world prices
D) it is the only exporter of the good in the world market
B
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
Which of the following are scarce?
A) information B) time for recreation C) clean air D) all of the above
When the American League instituted designated batters (that is, pitchers were exempt from batting), the shadow prices of throwing bean-balls (a pitch aimed at the batter's head):
A. did not change. B. fell. C. rose. D. disappeared.
The Bureau of Economic Analysis releases its first estimate of GDP for a particular quarter about a month after the quarter has ended, and continues to release revised GDP estimates for that quarter for
A) three additional months. B) the next 15 months. C) three years. D) more than three years.