The export supply curve shows a country's:
a. domestic surplus at various prices below the "no-trade" equilibrium price.
b. domestic shortage at various prices below the "no-trade" equilibrium price.
c. domestic supply at the "no-trade" equilibrium price.
d. domestic surplus at various prices above the "no-trade" equilibrium price.
e. domestic shortage at various prices above the "no-trade" equilibrium price.
d
You might also like to view...
Which of the following statements is correct regarding the imposition of a tax on gasoline? a. The incidence of the tax always falls on the buyer
b. The incidence of the tax depends upon the price elasticities of demand and supply. c. The incidence of the tax always falls on the sellers. d. The oil company will ultimately pay.
Cecilia's Café is in a competitive price-searcher market. Cecilia's is currently producing where average total cost is at its minimum, and Cecilia's is earning a positive economic profit. In the long run we would expect Cecilia's output to
a. decrease and average total cost to be higher. b. decrease and average total cost to be lower. c. remain unchanged as Cecilia's is doing the best it can. d. increase and average total costs to be lower.