As a result of international trade,
a. the gain to producers in the importing country exceeds the loss to consumers in the importing country
b. the loss to producers in the importing country is less than the gain to consumers in the importing country caused by a decrease in price
c. the loss to producers in the importing country exceeds the gain to consumers in the importing country caused by an increase in price
d. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price increases and equilibrium quantity decreases
e. the loss to producers in the importing country is equal to the gain to consumers in the importing country because price decreases and equilibrium quantity increases
B
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If the prices would have been much higher ten years ago for the items the average consumer purchased last month, then one can likely conclude that
A) the aggregate price level has declined during this ten-year period. B) the average inflation rate for this ten-year period has been positive. C) the average rate of money growth for this ten-year period has been positive. D) the aggregate price level has risen during this ten-year period.
In repeated games, all of the following allow a firm to escape an inefficient "prisoners dilemma" equilibrium except
a. Be nice, don't strike first b. Respond immediately to non-cooperation c. Punish competitors as much as you can d. Make sure your competitors can easily interpret your actions