It is possible to determine how much a nation will export over and above its domestic consumption at various international prices, other things being equal, by finding a set of equilibria. This schedule is:

a. the import demand curve for a nation.
b. the export supply curve for a nation.
c. the production possibilities frontier for a nation.
d. the "notrade" equilibrium.

Ans: b. the export supply curve for a nation.

Economics

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Why did American colonists have trouble redeeming Continentals, representative money backed by the Second Continental Congress?

(A) There was a shortage of gold and silver. (B) The government had no power to collect taxes. (C) Colonists preferred to use bills issued by the Massachusetts Bay Colony. (D) They were thought to be a symbol of central government control.

Economics

A ten percent increase in total factor productivity A will increase ________

A) the marginal product of capital (MPK) by ten percent B) the marginal product of labor (MPL) by ten percent C) output by ten percent D) all of the above E) none of the above

Economics