If an economy's exports are $600 billion and its imports are $750 billion, its net exports are
A) $1,550 billion
B) $150 billion
C) -$150 billion
D) 1.07.
C
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Compared to an economy’s self-correcting mechanism, active contractionary fiscal policy will
A. work more slowly and calmly. B. work more quickly. C. have less deflationary effects. D. have a smaller effect on real GDP.
Which of the following contracts contain vertical restrictions that limit the transacting parties' choices but create economic value?
a. An agreement between firms to jointly invest in research and development. b. A franchise contract specifying exclusive territory of operation. c. A contract amongst competitive firms on an uniform pricing strategy. d. A collusion between two oligopoly firms specifying individual production.
When the government finances a shovel-ready project through taxes or borrowing, this will result in
A) lower taxes or interest rates, which will reduce private sector employment. B) lower taxes or interest rates, which will increase private sector employment. C) higher taxes or interest rates, which will reduce private sector employment. D) higher taxes or interest rates, which will increase private sector employment.
In the former Soviet Union most goods and services were produced by ____________; in the United States most goods and services are produced by _____________.
A. the government; private enterprise B. the government; the government C. private enterprise; the government D. private enterprise; private enterprise