When U.S. net exports are negative, the United States consumes more output than it produces.
Answer the following statement true (T) or false (F)
True
Negative net exports indicate we are importing more than we are exporting.
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Regardless of what types of workers are available in different countries, unrestricted labor outsourcing always results in an equalization of wages across countries.
Answer the following statement true (T) or false (F)
Suppose a market has only one seller and only one buyer of a good in the market. The buyer is willing to pay $50 for the good and the seller is willing to accept $15. The market price of the good is determined at $30
If they trade, the social surplus will be ________. A) $15 B) $35 C) $45 D) $65
Based on this graph, deficit spending usually ______.
a. ends before a recession ends
b. continues after the end of a recession
c. does not occur during a recession
d. ends before a recession starts
Problems associated with thin markets provide incentives for:
A. buyers to seek information about identifying high-quality items. B. sellers to prove that the items they are selling are of high quality. C. buyers and sellers to agree upon a higher price than would hold in equilibrium. D. both buyers to seek information about identifying high-quality items and sellers to prove that the items they are selling are of high quality.