The value of the goods and services Australia purchases from the U.S. are less than the value of goods and services the U.S. purchases from Australia. The U.S. has
a. positive net exports with Australia and a trade surplus with Australia.
b. positive net exports with Australia and a trade deficit with Australia.
c. negative net exports with Australia and a trade surplus with Australia.
d. negative net exports with Australia and a trade deficit with Australia.
d
Economics
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Deadweight loss
What will be an ideal response?
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Where there are internal economies of scale, the scale of production possible in a country is constrained by
A) the size of the domestic plus the foreign market. B) the size of the country. C) the size of the trading partner's country. D) the size of the domestic market. E) the size of the foreign market.
Economics