If more foreign tourists visited the United States, this would
A. lower our merchandise trade imbalance.
B. lower our overall trade imbalance.
C. raise our merchandise trade imbalance.
D. raise our overall trade imbalance.
B. lower our overall trade imbalance.
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One of the primary objectives of the WTO is:
a. to create trade restrictions across the countries. b. to reduce trade barriers created by the different countries. c. to enable certain countries to maintain their autarkic conditions. d. to enable the western countries to emerge as major players in the international trade. e. to redistribute wealth from the first world to the third world countries.
Assume the demand for coffee increases and the supply of coffee decreases. Which of the following outcomes is certain to occur?
A. The equilibrium price of coffee will fall. B. The equilibrium price of coffee will rise. C. The equilibrium quantity of coffee will fall. D. The equilibrium quantity of coffee will rise.
Last year, Casey grew fresh vegetables, which she sold at her local farmers market, but this year, Casey did not plant any vegetables and went to work at a bank instead. If Casey's decision to change careers did not affect the price of vegetables at the farmers market, then this suggests that:
A. the demand for vegetables did not change. B. the market for vegetables is perfectly competitive. C. the market demand for vegetables is perfectly inelastic. D. the demand for vegetables increased this year.
As in other industries, the market structure of the computer industry has evolved over time. It began as a monopoly and then became perfectly competitive.
Answer the following statement true (T) or false (F)