Net Exports Is Negative If

question 174

Multiple Choice

Net exports is negative if

• A) the value of imports exceeds the value of exports.
• B) too much production occurs in the exporting country during the year.
• C) the tariff payments are included in the value of imported and exported items.
• D) the value of exports exceeds the value of imports.

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Definitions:

Imperfectly Competitive Market

A market structure where individual sellers have some control over the price of their goods due to lack of perfect competition.

Wage Rate

The amount of compensation an employee receives per unit of time worked, often expressed hourly.

Workers Employ

The act of hiring labor, where businesses or individuals provide jobs to workers in exchange for their services.

MRC = MRP

An economic condition where a firm's Marginal Resource Cost equals its Marginal Revenue Product, optimizing resource allocation.