If the government borrows to purchase goods and services, today's consumption of government goods and services will be paid for by

Refer to the table above. Once trade begins, a possible international price (i.e. terms of trade) for textiles in terms of grapes is

A) $5. B) 2/5. C) 2. D) 4/5.

Monopolists may in the long run

a. earn positive economic profit. b. be protected by barriers to entry. c. grow wealthy at the expense of their consumers. d. All of the above are correct.