For a linear production function, q = f(L,K) = 4L + 2K, what is the short-run production function given that capital is fixed at = 50?

A balance of payments deficit occurs if

A) the demand for a nation's currency exceeds the supply of the currency at the current exchange rate. B) exports exceed imports. C) the supply of a nation's currency is equal to the demand for the currency at the current exchange rate. D) the supply of a nation's currency exceeds the demand for the currency at the current exchange rate.

The logic of why international trade increases well-being is

a. a major revision of the logic of why trade within a country increases well-being. b. completely different from the logic of why trade within a country increases well-being. c. a narrow, special case of the logic of why trade within a country increases well-being. d. no different from the logic of why trade within a country increases well-being.