An import is a product:
A. produced in and purchased by residents of the home country.
B. produced in and sold to the residents of a foreign country.
C. produced in the home country and sold in another country.
D. produced in a foreign country and purchased by the residents of the home country.
Answer: D
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Since 2000, the U.S. government has generally had a government budget ________ and so the national debt has ________
A) surplus; decreased B) surplus; increased C) deficit; decreased D) deficit; increased E) deficit; not changed
Demand deposits $300 million Time deposits: Original maturity (less than 18 months): $200 million Original maturity (over 18 months): $400 million Use the information above to find the bank's required reserves.
What will be an ideal response?
Which of the following would shift a supply curve to the right?
a. an increase in the number of sellers b. expectations of higher future prices c. an increase in input prices d. outdated technology
ABC Light Bulbs has a monopoly on a new style of LED lighting. Right now, they sell 5 million bulbs at a unit price of $10. If they lower their price to $8, they will sell 7 million units. What is the price effect in this scenario?
a. ABC is unable to influence the price of its products if output exceeds 7 million bulbs. b. ABC earns an additional $18 for every bulb it sells over 5 million. c. ABC loses $10 million in revenue by selling at a lower price to its original customers. d. ABC gains $6 million in revenue by selling more bulbs to new customers.