A balance of trade surplus exists when
A. net exports are negative.
B. imports exceed exports.
C. net exports are positive.
D. All of the choices are true.
C. net exports are positive.
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Contractionary fiscal policy to prevent real GDP from rising above potential real GDP would cause the inflation rate to be ________ and real GDP to be ________
A) lower; lower B) lower; higher C) higher; higher D) higher; lower
Which of the following statements about international trade is true?
A) Potentially, a country can have absolute advantage in all goods. B) Potentially, a country can have relative advantage in all goods. C) After trade, countries tend to specialize in the production of those goods in which they enjoy absolute advantage. D) None of the above is true.
Supply and demand together determine the price and quantity of a good sold in a market
a. True b. False Indicate whether the statement is true or false
Automatic stabilizers are, therefore, inseparable from cyclical budget imbalances
What will be an ideal response?