A. Firms cooperate
B. Firms act as part of cartel
C. Firms are competitive
D. Firms are not profit maximisers
A. trade surplus in the short run
B. trade surplus in the long run
C. trade deficit in the short run
D. trade deficit in the long run
A. an increase in the price of watches
B. none of these answers
C. a decrease in the price of watch batteries if watch batteries and watches are complements
D. a decrease in consumer incomes if watches are a normal good
E. a decrease in the wage of workers employed to manufacture watches
A. An increase in price by the firm is not followed by others
B. An increase in price by the firm is followed by others
C. A decrease in price by the firm is followed by others
D. Firms collude to fix the price
A. One-half ton of steel
B. One ton of steel
C. Two tons of steel
D. Two and one-half tons of steel
A. Availability of gold in the country
B. Availability of dollars in the country
C. Demand for money in the country
D. Tax collection
A. international dumg
B. countervailing duties
C. Strategic trade policy
D. export promotion policy