When a country allows international trade and becomes an importer of a good, domestic producers of the good are better off, and domestic consumers of the good are worse off
a. True
b. False
Indicate whether the statement is true or false
False
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Which of the following statements is true?
A. Accounting profit is always positive. B. Economic profit is always positive. C. Accounting profit is greater than or equal to economic profit. D. Economic profit is greater than or equal to accounting profit.
A country produces only pencils and erasers. Pencil production is allocatively efficient if the marginal ________ of a pencil equals the marginal ________ of ________
A) cost; benefit; an eraser B) cost; cost; an eraser C) benefit; benefit; an eraser D) benefit; cost; a pencil
Which one of the following expressions is the MOST accurate?
A) CA = EX - IM B) CA = IM - EX C) CA = EX = IM D) CA = EX + IM E) CA - IM = EX
McDonald's partnership with Beijing's Department of Agriculture provided:
A) McDonald's with subsidies , suppliers, and distributional channels. B) McDonald's with just subsidies. C) McDonald's with just distributional channels. D) all of the above.