In the long run, imports are paid for by
A) investment.
B) exports.
C) dollars.
D) gold or other universally accepted monies.
B
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Historically, the largest budget deficits and growing government debt occur during war years
a. True b. False Indicate whether the statement is true or false
Suppose the price of apples decreases from $1.00 to $0.80 each and, as a result, the quantity of apples demanded increases from 800 to 1,000 . Using the midpoint method, the price elasticity of demand for apples in the given price range is
a. 0.22. b. 0.5. c. 1.0. d. 4.5.
In a two-person repeated game, a tit-for-tat strategy starts with
a. cooperation and then each player mimics the other player's last move. b. cooperation and then each player is unresponsive to the strategic moves of the other player. c. noncooperation and then each player pursues his or her own self-interest. d. noncooperation and then each player cooperates when the other player demonstrates a desire for the cooperative solution.
Faced with a large federal budget deficit, the government decides to decrease expenditures and tax revenues by the same amount. This action will affect output and interest rates in which of the following ways?
A) Increase/Increase B) Increase/Decrease C) no change/Decrease D) Decrease/Increase E) Decrease/Decrease