When the nation of Worldova allows trade and becomes an exporter of silk,
a. residents of Worldova who produce silk become worse off; residents of Worldova who buy silk become better off; and the economic well-being of Worldova rises.
b. residents of Worldova who produce silk become worse off; residents of Worldova who buy silk become better off; and the economic well-being of Worldova falls.
c. residents of Worldova who produce silk become better off; residents of Worldova who buy silk become worse off; and the economic well-being of Worldova rises.
d. residents of Worldova who produce silk become better off; residents of Worldova who buy silk become worse off; and the economic well-being of Worldova falls.
c
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The owners of a ________ have a separate legal distinction from the business
A) partnership B) sole proprietorship C) corporation D) All of the above are correct.
When a country's export spending exceeds import spending, the country is experiencing a:
A) trade deficit. B) trade surplus. C) budget deficit. D) none of the above.
What is protectionism in the domestic economy?
a. forcing foreign consumers to subsidize domestic producers b. forcing producers to subsidize consumers c. forcing consumers to subsidize producers d. forcing foreign consumers to subsidize foreign producers
The quantity at which quantity demanded and quantity supplied are equal for a certain price level is known as
a. equilibrium price. b. equilibrium quantity. c. equilibrium rate. d. equilibrium level.