If a Country Has Net Exports of $8 Billion and Sold

question 33

Multiple Choice

If a country has net exports of $8 billion and sold $40 billion of goods and services abroad,then it has

• A)$48 billion of imports and $40 billion of exports.
• B)$48 billion of exports and $40 billion of imports.
• C)$40 billion of imports and $32 billion of exports.
• D)$40 billion of exports and $32 billion of imports.

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Definitions:

Horizontal Restraint

A practice that involves agreements among competitors at the same level of the market to restrict competition.

Chain of Distribution

The sequence of intermediaries through which a product or service passes until it reaches the end consumer.

Competitors

Individuals or entities that are in the same industry or market and vying for the same customers or market share.

Robinson-Patman Act

A United States federal law that prohibits anticompetitive practices by producers, specifically price discrimination.