In the pre-World War I period, the United Kingdom imported mainly
A) manufactured goods.
B) services.
C) primary products including agricultural.
D) technology intensive products.
E) from the United States.
C
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Economics is the study of ________ and its ________ (Fill in the blanks:)
)A) greed; desirable consequences B) choice; unintended consequences C) money; financial consequences D) competition; legal consequences
Under conditions of perfect competition, if any one producer increases output,
a. market price rises. b. market price falls. c. market price does not change. d. market price changes unpredictably up or down.
Suppose that Far North Canadian Lumber, Ltd., sells lumber in Canada at a price of $1,000 per 1,000 board feet and exports the same lumber to the United States at a price of $600 per 1,000 board feet. U.S. Lumber, Inc., produces and sells lumber for $700 per 1,000 board feet in the United States. What might Far North Canadian Lumber, Ltd., do to avoid the antidumping duty?
a. appeal to the U.S. International Trade Commission b. raise its price in the Canadian market c. raise its price in the U.S. market d. lower its price in the U.S. market
Gross Domestic Product in the U.S. is roughly:
A. more than six times M1. B. twice as large as M2. C. equal to M1. D. equal to M2.