If the domestic producers of a good are hurt by a free trade, it suggests that the country:
A. is a net exporter of that good.
B. is not able to produce that good.
C. is a net importer of that good.
D. has a comparative advantage in that good.
Answer: C
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Which of the following is most likely a topic of discussion in macroeconomics?
a. an increase in the price of a pizza b. a decrease in the production of DVD players by a consumer electronics company c. an increase in the wage rate paid to automobile workers d. a decrease in the unemployment rate
Excise taxes are a form of sales tax
a. True b. False Indicate whether the statement is true or false
The MRP schedule of the imperfect competitor declines _____ than that of the perfect competitor.
Fill in the blank(s) with the appropriate word(s).
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.