Describe the situation in the market for a good or service that the United States exports

What will be an ideal response?

The goods and services the United States will export are those in which the United States has a lower opportunity cost of production relative to other countries. In those markets the U.S. no-trade price is lower than the world price. With trade the quantity produced in the United States exceeds the quantity consumed and the excess is exported.

Economics

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If an undervalued currency is allowed to float:

A) its value will depreciate. B) its quantity supplied in exchange for the other currency will decrease. C) its quantity demanded in exchange for the other currency will increase. D) its value will appreciate.

Economics

Which of the following is most likely to decrease supply in the market for pizza?

a. Popularity of pizza induces a greater number of fast food joints to include pizza in their menu. b. Reports reveal that eating pizza increases the risk of stomach ulcers. c. Cheese prices increase because price supports for dairy farmers are removed. d. The price of burgers increases due an increase in the price of beef.

Economics