If the long-run supply curve slopes downward, we know that this is

A) a decreasing-cost industry.
B) a constant-cost industry.
C) an increasing-cost industry.
D) a situation in which no input prices change as firms enter and exit the industry.

Answer: A

Economics

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A country which incurs a current account deficit will most likely have a financial or capital account surplus

Indicate whether the statement is true or false

Economics

Refer to Figure 9.6. As a result of this policy, quantity will

A) fall to 300. B) rise to 400. C) stay at 400. D) fall to 400. E) rise to 600.

Economics