10% of the total food grains produced in a country during a year got damaged due to poor storage. Which of the following will happen in this case?
A) Imports will fall. B) Trade surplus will increase.
C) GDP will remain unchanged. D) GDP will decrease.
C
Economics
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Assume that when the price of good Z is increased from $5 to $6, the total revenue earned increases from $600 to $690. Based on this information, we can conclude that over this range, demand for Z is:
A) elastic. B) unit elastic. C) inelastic. D) perfectly inelastic.
Economics
A narrow target zone exchange rate band (such as the EEC had until 1992 ) is most similar to
A) a flexible exchange rate system. B) a single currency. C) a fixed exchange rate system. D) a managed floating exchange rate.
Economics