When a nation exports a good or service, the nation's consumer surplus ________, its producer surplus ________, and its total surplus ________
A) increases; decreases; increases
B) increases; decreases; decreases
C) increases; increases; increases
D) decreases; decreases; decreases
E) decreases; increases; increases
E
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Which of the following does NOT decrease aggregate demand in the United States?
A) a decrease in GDP in Germany B) a decrease in government spending C) a decrease in the price of oil D) a decrease in the supply of money
One difference between the assets included in M1 and those added to calculate M2 is that items in M1 are
A. better stores of value than those added to compute M2. B. more liquid than those added to compute M2. C. less liquid than those added to compute M2. D. larger than those added to compute M2.
An underground economy:
a. is a market where transaction occurs under the ground. b. is a market where the buyers and sellers make transactions without the government’s approval. c. is a market where the buyers and sellers make transactions with the government’s approval. d. is a market that is international in scope and fully authorized to conduct business.
Because a monopolist is the sole producer in its market, it can necessarily alter the price of its good
a. by adjusting the quantity it supplies to the market. b. by changing its marginal cost. c. without affecting its average total cost. d. without affecting the quantity sold.