The aggregate demand for good X is Q = 20 - P, and the market price is P = $8. What is the maximum amount that consumers are willing to pay for the quantity demanded at this price?

International Economists cannot discuss the effects of international trade or recommend changes in government policies toward trade with any confidence unless they know

A) their theory is the best available. B) their theory is internally consistent. C) their theory passes the "reasonable person" legal criteria. D) their theory is good enough to explain the international trade that is actually observed. E) their theory accounts for China's unique position in international trade.

Anti-inflationary policy is less costly when that policy is anticipated in ________

A) traditional Keynesian theory B) new Keynesian theory C) real business cycle theory D) institutionalist theory