Please refer to the following diagram. 
If the supply curve is S, at a price of $4 there will be a
A. shortage of 2.
B. surplus of 2.
C. surplus of 1.
D. shortage of 1.
Answer: B
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Any business wanting to attract financial capital must expect to
A) earn a positive economic profit. B) keep implicit costs as close to zero as possible. C) pay a normal rate of return. D) pay a below normal rate of return in order to make a positive rate of return itself.
Today the primary organization that countries use to negotiate trade issues is
a. the World Trade Organization. b. the General Agreement on Tariffs and Trade. c. the United Nations. d. the European Union.
Consumers receive more consumers' surplus when tariffs exist than when they do not exist
Indicate whether the statement is true or false
During a recession, the actual rate of unemployment will be
What will be an ideal response?