According to the graph shown, if this economy were open to free trade, domestic producers would produce how many units?
This graph demonstrates the domestic demand and supply for a good, as well as the world price for that good.
A. 45
B. 85
C. 120
D. 75
C. 120
You might also like to view...
Each bank can lend an amount equal to its total reserves and no more.
Answer the following statement true (T) or false (F)
Potential homebuyers expect house prices to continue to rise, which causes others to believe that they will rise even faster. This is an example of:
A. extrapolative expectations. B. irrational expectations. C. imperfect expectations. D. heightened expectations.
Which statement about entrepreneurship in America is true?
A. Alexander Graham Bell and Thomas Edison were two of the most famous American inventors who became entrepreneurs. B. Often the entrepreneur is an innovator. C. The vast majority of entrepreneurs in America either work for themselves or have just one or two employees. D. All of the statements are true.
In the United Sates, the average annual rate of growth of real wages was fastest in the period:
A. 1960-1973. B. 1960-1995. C. 1973-1995. D. 1996-2010.