When one country buys more from another country than it sells to the country, it is said to be experiencing:
a. economic dualism.
b. double counting.
c. symmetrical trade.
d. internationalization.
e. bilateral trade deficit.
e
Economics
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If beef and pork are substitutes for consumers, the cross elasticity of demand between the two products must be
A) negative. B) positive. C) indeterminate. D) elastic. E) greater than 1.
Economics
The change in the quantity demanded of gas because of increasing gas prices over the last decade:
A. was more elastic than it has been in the last six months. B. has become a non-issue for people now that they are used to higher gas prices. C. has been relatively the same over both time periods. D. was less elastic than it has been in the last six months.
Economics