Net exports
a. will increase if exports of goods decline
b. will increase if imports of goods rise
c. are neither part of GDP nor national income
d. are part of national income but not GDP
e. are part of GDP and are derived by subtracting imports from exports
E
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The production possibilities frontier for a country is usually drawn
A. as a straight line, sloping downward. B. as a straight line, sloping upward. C. bowed outward from the origin. D. bowed inward toward the origin. E. as a dotted line when sloping downward and as a full line when sloping upward.
Refer to Table 1-6. Using marginal analysis, how many hours should Ivan extend his hours of operations?
A) 2 hours B) 3 hours C) 4 hours D) 5 hours E) 6 hours
Which of the following is not a variable in the index of leading indicators?
a. Average work week. b. Duration of unemployment. c. Employment claims. d. New businesses.
Gabriela, a brilliant new Ph.D. in economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. The type of unemployment she is experiencing is
a. frictional b. structural c. seasonal d. cyclical e. underemployment