With a deficit in our balance of payments, there is an excess __________ dollars in the foreign exchange market, causing the dollar to __________

When the firm is able to perfectly price discriminate, each unit is sold at its: a. peak load price

b. reservation price. c. cost price. d. market price.

Suppose that the United States can make 15 cars or 20 bottles of wine with one year's worth of labor. France can make 10 cars or 18 bottles of wine with one year's worth of labor. From these numbers, we can conclude that

a. the United States has a comparative advantage in the production of cars. b. France has a comparative advantage in the production of wine. c. the United States has an absolute advantage in the production of cars. d. All of the above are correct.