China has a trade deficit in services, while India has a trade surplus in services
Indicate whether the statement is true or false
TRUE
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Refer to Figure 15-7. Suppose the economy is in a recession and no policy is pursued. Using the static AD-AS model in the figure above, this situation would be depicted as a movement from
A) C to D. B) A to B. C) C to B. D) A to E. E) B to A.
Which of the following pricing strategies allows a firm to earn economic profit?
A) charging a price equal to the average variable cost of production B) charging a price equal to marginal cost C) price discrimination D) charging a price equal to the average total cost of production
A person with AIDS has a guaranteed right to apply for health insurance and receive coverage at the same rate as a healthy person. What is the likely result for the insurance company?
a. Rational ignorance b. The principle-agent problem c. The substitution effect d. Externalities e. Adverse selection
Under perfect competition, the individual firm's economic profit is 
Figure 42.2
A. zero. B. the larger of the dashed-line boxes. C. between the size of the two dashed-line boxes. D. the smaller of the dashed-line boxes.