Japan is now the Asian nation with the most outbound travelers.
Indicate whether the statement is true or false.
Answer: False.
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Suppose we have an economy for which G = 1100, T = 800, S = 230, and I = 230. If I falls to 150, the economy's trade deficit
A) increases from 0 to 80. B) decreases from 300 to 220. C) decreases from 0 to -80. D) decreases from 70 to -10. E) increases from 0 to 70.
Above-normal profits earned by existing firms in a perfectly competitive market will eventually lead to:
a. exit of the firms from the market. b. an increase in the market price of the good. c. entry of new firms into the market. d. a decrease in the aggregate supply. e. the existing firms emerging as price makers.
For which of the following commodities are consumers usually willing to pay a premium to save time?
a. Microwave oven b. A new production facility c. Stocks of a company d. Residential property
Large gains from trade are most likely when countries are very different.
Answer the following statement true (T) or false (F)