The ratio at which nations will exchange one product for another is known as the:
A. Exchange rate
B. Discount rate
C. Terms of trade
D. Balance of trade
C. Terms of trade
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A nation will import a good if its no-trade, domestic
A) price is equal to the world price. B) price is less than the world price. C) price is greater than the world price. D) quantity is less than the world quantity. E) quantity is greater than the world quantity.
Assuming that automobiles are normal goods, a rise in consumer income, other things being equal, will cause:
A. the demand curve for automobiles to shift to the left. B. the demand curve for automobiles to shift to the right. C. a downward movement along the demand curve for automobiles. D. an upward movement along the demand curve for automobiles.
Much of the TARP money was used to recapitalize banks.
Answer the following statement true (T) or false (F)
Profit per unit is maximized when the difference between ________ and ________ is at a maximum.
Fill in the blank(s) with the appropriate word(s).