Equilibrium price is the price at which the quantity of a product demanded by consumers and the quantity supplied by producers

When a nation exports a good, its total surplus ________, and when it imports a good, its total surplus ________

A) increases; increases B) decreases; decreases C) increases; decreases D) decreases; increases E) does not change; does not change

Refer to Table 20-19. Looking at the table above, what is the rate of growth of the average price level from 2015 to 2016?

A) 1% B) 2% C) 3.5% D) 4.76% E) 5.25%