If the world price of a good is lower than its domestic equilibrium price, the country will:
a. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
b. export a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied domestically.
c. import a quantity of the good equal to the difference between the quantity demanded domestically and the quantity supplied by foreign producers.
d. export a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied domestically.
e. import a quantity of the good equal to the difference between the quantity demanded by foreign consumers and the quantity supplied by foreign producers.
a
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What percentage of Americans will find a new job within 14 weeks of being unemployed?
a. 27.8
b. 35.7
c. 63.5
d. 78.4
If the production of a product or service involves external or spillover benefits, then the government can improve efficiency in the market by:
A. imposing a corrective tax to correct for an overallocation of resources. B. providing a subsidy to correct for an underallocation of resources. C. imposing a corrective tax to correct for an underallocation of resources. D. providing a subsidy to correct for an overallocation of resources.
Suppose compensation is given by W = 500,000 + 200 ? + 17S, where W = total compensation of the CEO, ? = company profits (in millions) = $300, and S = sales (in millions) = $500. What percentage of the CEO's total earnings is tied to profits of the firm?
A. 1.5 percent B. 43.4 percent C. 7.9 percent D. 10.6 percent
If a nation changes its laws to more actively enforce intellectual property rights, all of the following will most likely take place except
A) more software companies will choose to export their products to that country. B) more film makers will choose to do business in that country. C) the black market for intellectual property will become more prosperous in that country. D) foreign investment in that country will increase.