If the world supply curve is SW0,
A. domestic quantity supplied is unrelated to domestic quantity demanded.
B. domestic quantity supplied exceeds domestic quantity demanded.
C. domestic quantity supplied equals domestic quantity demanded.
D. domestic quantity supplied is less than domestic quantity demanded.
Answer: C
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Of the following, who gains with a tariff?
A) domestic buyers of the good or service B) the importer of the good or service C) the foreign exporter of the good or service D) the government of the importing nation E) the government of the exporting nation
Microeconomics examines the
A) total household expenditures. B) behavior of the economy as a whole. C) aggregate business spending. D) decision making undertaken by individual households.
Assume the production of a good gives rise to external benefits. The government may increase efficiency by
A) subsidizing consumption of the good. B) requiring all producers of the good to be licensed. C) taxing production of the good. D) imposing taxes on the good.
A depreciation in Micromania's currency, the micro, occurs when the exchange rate changes from
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