If a country's imports exceed its exports it has a trade surplus
a. True
b. False
Indicate whether the statement is true or false
False
You might also like to view...
Use the following table, which shows a firm's production, output price, and various quantities of labor (workers) employed, to answer the next question.WorkersTotal Output per DayPrice of Good210$103151041910522106241072510What is the marginal revenue product of the fifth worker?
A. $40 B. $30 C. $20 D. $10
Which of the following is an example of a leakage into the circular flow of income and expenditure?
a. Saving b. Exports c. Government expenditure on goods d. Transfer payments e. Investment by firms
In long-run monopolistic competition,
a. economic profit is zero b. P = MC = ATC c. P = ATC at the minimum point on the ATC d. normal profit is zero e. the demand curve is tangent to the MC curve
You believe the dollars you have today will be accepted in the future in exchange for goods and services. Which function of money does this illustrate?