The above figure shows the U.S. market for flip-flops. With international trade, the equilibrium price in the United States is ________ and the United States ________ flip-flops
A) $12; imports
B) $12; does not trade
C) $12; exports
D) $14; imports
E) $14; does not trade
A
Economics
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Which of the following schools of thought are policy interventionists favoring activist aggregate demand management to stabilize output and employment?
a. Keynesians b. Monetarism c. The new classical economics d. The classical economics e. None of the above
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The total of consumer plus producer surplus is ________ at the market equilibrium.
A. smallest B. negative C. greatest D. zero
Economics