A nation will export a good if its
A) no-trade, domestic price is less than the world price
B) no-trade, domestic price is equal to the world price.
C) no-trade, domestic price is greater than the world price.
D) no-trade, domestic quantity is less than the world quantity.
E) no-trade, domestic quantity is greater than the world quantity.
A
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Which of the following events did not contribute to the high rate of bank failures in the 1980s and 1990s?
a. The collapse of the communist world, principally Russia; because of the collapse,they could not pay off their loans to U.S. banks b. Falling farm prices in the U.S. c. Bad loans to Mexico d. An unexpected slide in oil prices e. Falling agricultural land values
Mick Jagger, a former student at the London School of Economics, once sang, “You can’t always get what you want, but if you try sometime, you just might find you can get what you need.” Another statement of the basic economic principle expressed in this lyric is that
A. rational decisions are not always possible. B. you can allocate your resources to what gives you the highest value. C. you can create the supply to meet your own demand. D. you can maximize social welfare by making optimal decisions.