Dumping is sometimes legal under international trade agreements.
Answer the following statement true (T) or false (F)
False
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Refer to Figure 3-7. Assume that the graphs in this figure represent the demand and supply curves for frozen yogurt. Which panel describes what happens in the market for frozen yogurt when the price of ice cream, a substitute product, increases?
A) Panel (a) B) Panel (b) C) Panel (c) D) Panel (d)
Last year an economy produced 3400 hurleys, 3000 footballs and 2000 rugby balls. The price of hurleys was €30, the price of footballs was €20 and the price of rugby balls was €25. Nominal GDP was:
(a) €212,000. (b) €660,000. (c) €420,250. (d) Cannot be computed.
If the price level decreases,
A. The money demand curve shifts to the left B. There is a movement down along a stationary money demand curve C. The money demand curve shifts to the right.
Suppose that the CPI in Thailand was 345 in 2015 and 388 in 2016. The inflation rate between those two years was approximately:
A. 11.2 percent. B. 14.3 percent. C. 12.5 percent. D. 43 percent.