If an economy's exports are $600 billion and its imports are $750 billion, its net exports are

The above figure illustrates the case of a monopsony in the labor market. If the current wage paid is W1 and new wage legislation is passed that increases the minimum wage in this market to W2, the firm will

A) hire less labor at the higher wage and, according to the law of demand, moving from point D to B. B) hire the same amount of labor as before the law was passed because it cannot adjust to wage changes. C) hire more labor, moving from point C to B. D) pay a higher wage, moving from point C to A.

Equilibrium is unique; it is the only price-output combination that is mutually compatible with aggregate supply and demand.

Answer the following statement true (T) or false (F)