The international trade effect states that
A) an increase in the price level will raise net exports.
B) an increase in the price level will lower net exports.
C) an increase in the price level will raise exports.
D) an increase in the price level will lower imports.
Answer: B
Economics
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The above figure shows the market for biologists. The government decides to set a minimum wage for biologists of $18 per hour. After this minimum wage is in effect, unemployment equals ________ workers
A) 100 B) 300 C) 400 D) 500 E) 200
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Economists assume that individuals
A) prefer to live in a society that values fairness above all else. B) will never take actions to help others. C) are rational and respond to incentives. D) behave in unpredictable ways.
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