If U.S. imports of goods and services exceed exports, U.S.:
A. net exports are positive.
B. GDP is less than the sum of consumption, investment, and government purchases.
C. GDP exceeds the sum of consumption, investment, and government purchases.
D. GDP equals the sum of consumption, investment, and government purchases.
Answer: B
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Of the following, the largest is
A) money market deposit accounts. B) demand deposits. C) M1. D) M2.
Assume, for Colombia, that the domestic price of coffee without international trade is higher than the world price of coffee. This suggests that
a. other countries have a comparative advantage over Colombia in producing coffee. b. Colombia has an absolute advantage over other countries in producing coffee. c. Colombia will export coffee if international trade is allowed. d. Colombian coffee buyers will become worse off if international trade is allowed.
A budget surplus occurs when tax revenues are greater than government expenditures.
Answer the following statement true (T) or false (F)
Which of the following will cause a leftward shift in the aggregate demand curve?
A. a reduction in government spending B. an increase in taxes C. a reduction in the money supply D. all of these