In the arena of trade policy, the battle often seems to be between ________ laws that increase protectionism and ________ agreements that try to reduce protectionism.
a. national; national
b. international; international
c. national; international
d. international; national
c. national; international
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Using the values for the marginal benefit and the marginal cost of a bushel of apples given in the table above, what is the allocatively efficient quantity of apples? Suppose 10 million bushels of apples are produced
Should the quantity be increased or decreased? What if 20 million bushels are produced; should the quantity be increased or decreased?
A principal disadvantage of conventional checking accounts compared to money market mutual funds is that checking accounts
A. are less liquid. B. often do not pay interest. C. cannot be used as a store of value. D. are not insured by deposit insurance.
National income is the income that individuals and firms earn from their production.
Answer the following statement true (T) or false (F)
When there are just a few firms in the industry, the industry structure is most likely to be:
A. a perfectly competitive industry. B. an oligopoly market. C. a monopoly market. D. a natural monopoly market.