The above figure shows the U.S. market for flip-flops. With international trade, the United States imports ________ flip-flops
A) 300,000
B) 500,000
C) 700,000
D) 0 flip-flops because the United States exports
E) 400,000
E
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The above figure shows a graph of the market for pizzas in a large town. Suppose that concern over dietary habits has led the government to impose a restriction that limits suppliers to produce only 40 pizzas
As a result, for prices greater than $7, the A) supply curve is unchanged. B) supply curve is vertical. C) demand curve becomes vertical. D) demand curve becomes horizontal.
When resource prices are negotiable, the long-run aggregate supply curve is represented by: a. an upward-sloping line b. a downward-sloping line c. a vertical line at potential output
d. a horizontal line at the actual price level. e. a horizontal line at the expected price level.