A Number of Explanations Have Been Offered for the Low

question 89

Multiple Choice

A number of explanations have been offered for the low level of U.S.exports relative to other countries.All of the following can be considered as reasons for low level of exports except:

• A)limited ambition by many American business owners.
• B)lack of knowledge of market opportunities abroad.
• C)perceived lack of necessary resources.
• D)marketing to home-country users is easier than exporting.
• E)a strong U.S.dollar translates into less affordable prices in export markets.

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Definitions:

Equilibrium Point

The price and quantity at which the supply of a good matches its demand in a market, leading to a stable market condition.

S And D Curves

Supply and Demand curves, graphical representations in economics that show the relationship between the price of a good and the quantity supplied and demanded.

Maximum Amount

The highest possible quantity or level that can be reached or allowed.

Market Producer Surplus

The difference between the amount producers are willing and able to sell a good for and the actual amount they receive by selling it at the market price.