If public goods were marketed like private goods, then
A. There would be market failure.
B. Public goods would be overproduced.
C. The optimal mix of output would occur at the market equilibrium.
D. The economy would be outside the production possibilities curve.
Answer: A
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The effect of antidumping laws is to
A) put a floor on foreign prices. B) lower consumer surplus in the importing country. C) encourage domestic firms to allege dumping even when it might not be true. D) All of the above.
Based on the transactions in the above table, what is the change in the U.S. balance of merchandise trade?
A) $11,000 B) $29,700 C) -$30,000 D) -$31,000
(Figure: Two SRAS Curves) The figure shows the AD-AS model with two SRAS curves. Which of the following is TRUE of Point A?
What will be an ideal response?
When exchange rates are set by government decree,
A. appreciation is called devaluation. B. depreciation is called devaluation. C. depreciation is called deflation. D. appreciation is called inflation.