If imports exceed exports, as in recent years, then __________ exists.
a. a trade surplus
b. a trade deficit
c. a trade imbalance
d. trade disequilibrium
b. a trade deficit
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People who "sell short" are selling goods
A) at below-market prices. B) of poor quality. C) to purchasers who cannot afford to pay for them. D) they do not yet own. E) with the expectation of buying them back again.
When outcomes are uncertain
A) people always look for the sure thing. B) people are willing to pay risk premiums. C) people often need to be paid a risk premium before they take a certain course. D) none of these choices.
If Shawn can produce more donuts in one day than Sue can produce in one day, then
a. Shawn has a comparative advantage in the production of donuts. b. Sue has a comparative advantage in the production of donuts. c. Shawn has an absolute advantage in the production of donuts. d. Sue has an absolute advantage in the production of donuts.
A profit-maximizing firm in a monopolistically competitive market charges a price equal to marginal cost
a. True b. False Indicate whether the statement is true or false