Farm subsidies
A. enable industrial nations to export much of their agricultural output at artificially low prices.
B. in the world's richest nations amount to over $300 billion.
C. make it more difficult for less developed nations to purchase capital equipment from U.S. manufacturers such as Caterpillar.
D. All of the choices are true.
D. All of the choices are true.
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Perfect competition does not assume that
a. buyers are well informed about products and prices. b. free entry into and exit from the market exists. c. no individual buyer or seller can influence a price. d. all firms operate at the same cost.
Which statement is false?
A. In general, Japanese firms are more concerned with product quality than American firms are. B. There is no one explanation for the rising Japanese trade surplus. C. There is no single remedy for our huge trade imbalance. D. None of these statements are false.