Assuming that the United States is the domestic economy, ________ are goods and services produced by ________ and purchased by ________
A) exports; foreign countries; the United States
B) exports; the United States; the United States
C) imports; foreign countries; foreign countries
D) imports; foreign countries; the United States
Answer: D
Economics
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The figure above shows the marginal revenue and long-run cost curves for a perfectly competitive firm. Which of the following statements is TRUE?
A) The firm is producing at minimum long-run average cost. B) Over time, this firm will leave this industry. C) The firm is earning positive economic profit. D) The firm will eventually decrease its production.
Economics
A nation can determine how close it is to the classical range by considering its:
a. Export position. b. Net export position. c. Exchange rate. d. None of the above.
Economics