As a result of the 2007-2009 recession:
A. declining imports created a trade surplus for the United States.
B. the U.S. trade deficit grew significantly.
C. declining imports reduced the size of the U.S. trade deficit.
D. roughly equivalent declines in both exports and imports left the U.S. trade balance
unchanged.
C. declining imports reduced the size of the U.S. trade deficit.
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A single-price monopoly faces a linear demand curve. If the marginal revenue for the second unit is $20, then the marginal revenue for the
A) first unit is less than $20. B) third unit is less than $20. C) third unit is more than $20. D) third unit is also $20. E) more information is needed to determine if the marginal revenue for the third unit is more than, less than, or equal to $20.
Business taxes increase. What is the impact on aggregate expenditures and income?
A) Both increase. B) Both decrease. C) Aggregate expenditure increases and income decreases. D) Aggregate expenditure decreases and income increases.
Which of the following is a hybrid of a checking and savings account?
A) CD B) negotiable CD C) passbook accounts D) money market deposit account
A perfectly competitive firm earns a profit when price is
A) equal to minimum average total cost. B) above minimum average total cost. C) equal to minimum average variable cost. D) equal to minimum average fixed cost.