Questions and answers by

MacEc

Questions (15)

The consumer surplus is is the area of the from the market price ($120) up to the demand curve and over to the equilibrium
1. 1 answer
2. 103 views
Which of the following is NOT referred to as a barrier to trade?quotas tariffs the market mechanism nontariff barriers
1. 1 answer
2. 61 views
Which of the following is the result of a tariff?a more efficient allocation of resources greater domestic production lower
1. 1 answer
2. 57 views
Tariffs on imported coffee will result in all of the following excepthigher prices for imported coffee. gains for workers in the
1. 1 answer
2. 69 views
When the terms of trade are between the opportunity costs for two countries, then both countries benefit if theyimpose trade
1. 1 answer
2. 78 views
Specialization and tradereduce consumption possibilities. increase the standard of living. make workers lazy. increase the
1. 1 answer
2. 74 views
In the absence of trade, a country's consumption possibilities aremore than its domestic production possibilities. equal to its
1. 1 answer
2. 89 views
In the absence of trade, a country's consumption possibilities are
1. 1 answer
2. 63 views
Consumption possibilities refers to theamount that a country can expand its production possibilities by because of trade.
1. 1 answer
2. 84 views
Over a given period of time, if exports exceed imports, the result is
1. 1 answer
2. 50 views
Which of the following does the United States import?cell phones, but not steel video-game machines, but not cell phones
1. 1 answer
2. 78 views
If there are only two countries in the world and one has a trade deficit, the other country musthave a comparative advantage in
1. 1 answer
2. 89 views
Which of the following countries has the lowest export ratio?Kuwait Canada United States Sweden
1. 1 answer
2. 66 views
if a bank has total reserves of $200,000 and $1 million in deposits, how much money can it lend if the required ratio isa) 4%?
1. 7 answers
2. 85 views
if a bank has $100 million in deposits and $17 million in reserves with a reserve requirement of 0.15, how much does its excess
1. 3 answers
2. 98 views