Keynesians believe that the most important shocks for affecting the business cycle are

The United States imports television sets from Japan. The table above contains the U.S. demand and U.S. supply schedules for television sets. The world price of a television set is $600 per set

a. With no trade, what is the domestic price and quantity of television sets? b. At the world price, what is the quantity of sets demanded in the United States? c. At the world price, how many sets are produced in the United States? d. At the world price, how many sets are imported into the United States? e. What is the opportunity cost of producing the 4-millionth television set in the United States? In Japan?

When the cross price elasticity between good X and other related goods is positive and very low, firm X can be assumed to have:

A) minimal market power. B) moderate market power. C) a significant amount of market power. D) virtually no market power.