It is possible for the U.S. to gain from trade with Germany even if it takes U.S. workers fewer hours to produce every good than it takes German workers

Suppose that a non-discriminating monopolist lowers its price from $75 to $70 in order to sell more output. Marginal revenue will

a. equal $75 b. equal $70 c. be between $75 and $70 d. be less than $70 e. be greater than $75

Which of the following is an effect of the domestic sugar program of the United States on many of the less-developed countries that export sugar?

A. Export earnings and national incomes have increased B. The decrease in the supply of sugar to world markets from less-developed countries has increased world prices C. There has been an increase in the production of sugar in the United States and a loss of sales by less-developed countries to the United States D. There has been improved efficiency in the allocation of agricultural resources