When the United States exports a good, U.S. consumer surplus ________ and U.S. total surplus ________
A) increases; increases
B) increases; decreases
C) decreases; increases
D) decreases; decreases
C
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As long as the market sets prices above marginal costs, production will be efficient.
Answer the following statement true (T) or false (F)
An American farmer today feeds over ______ people.
A. 15 B. 30 C. 50 D. 100
The defining characteristic of oligopoly is that each firm
a. produces the same output as its rivals b. acts independently of its rivals c. is mutually interdependent d. is atomistic e. advertises how its products are different from its rivals' products
Union membership as a percentage of the civilian labor force is lower in the United States than in Germany or Japan
a. True b. False Indicate whether the statement is true or false