Both a parallel market and a black market are free markets permitted to coexist with the official market
Indicate whether the statement is true or false
FALSE
Explanation: Black market is an illegal market, but parallel market is permitted.
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The difference between exports and imports of goods is the
A) balance of trade. B) balance of payments. C) balance of accounts. D) balance of paying.
During 2017, the rate of inflation was 2 percent. Daniel sold basketballs that year for $16. If Daniel continued to sell basketballs for the same price in 2018, how did the relative price of basketballs change?
a. –2 percent b. –1 percent c. 2 percent d. 1 percent
Because unregulated natural monopolies earn economic profits greater than zero in the long run, but cannot attract new entrants into the industry:
A. government agencies often regulate the number of firms that compete against natural monopolies. B. government agencies often regulate the price natural monopolies can charge. C. natural monopolies often go out of business. D. natural monopolies are outlawed.
Dumping involves a country selling its exports
A. to nations without a comparative advantage in producing the products. B. at a price lower than its cost of production. C. to nations that regularly impose tariffs. D. to nations that have no need for the products.