Refer to the budget line shown in the diagram. The absolute value of the slope of the budget line is:
A. MU C /MU D .
B. one-half.
C. P D /P C .
D. P C /P D
D. P C /P D
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If a nation imports more than it exports, then its net exports are:
A. positive. B. negative. C. zero. D. unstable.
Use the following graph, where Sd and Dd are the domestic supply and demand for a product and Pc is the world price of that product, to answer the next question.
Sd + Q is the product supply curve after an import quota is imposed. A quota of y?w will result in a deadweight loss equal to areas
A. F + J. B. G + H. C. E + F + G + H + J. D. F + G + H + J.
Based on the figure above, short-run equilibrium occurs at the price level of
A) 120 and real GDP of $5 trillion. B) 130 and real GDP of $10 trillion. C) 140 and real GDP of $15 trillion. D) 130 and real GDP of $15 trillion.
Even if possible, it would be inefficient to prohibit all polluting activity
a. True b. False Indicate whether the statement is true or false