The history of the textile industry raises important questions for economic policy
a. True
b. False
Indicate whether the statement is true or false
False
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Between 2015 and 2016, if an economy's exports rise by $8 billion and its imports fall by $8 billion, by how much will GDP change between the two years, all else equal?
A) The increase in exports is offset by the decrease in imports, so there is no change in net exports and no effect on GDP. B) Net exports will decrease GDP by $8 billion. C) Net exports will increase GDP by $8 billion. D) Net exports will increase GDP by $16 billion.
The above table shows marginal costs and marginal benefits of clean air in a particular industrial area. In the table, when the quantity of clean air is at 75 percent
A) the quantity of polluted air is 75 percent. B) the marginal benefit of clean air exceeds the marginal cost. C) the marginal benefit of clean air is less than the marginal cost. D) the quantity of clean air is optimal.
Until 1980, the national debt was mostly the result of: a. wartime borrowing
b. inflation. c. bad monetary policy. d. wasteful Congressional spending. e. Social Security obligations.
When Acme Dynamite produces 250 units of output, its variable cost is $2,000, and its fixed cost is $500. It sells each unit of output for $25. If the price of dynamite drops to $10, should Acme Dynamite continue to operate in the short run?
A. No, because price is less than average total cost. B. Yes, because price is greater than average variable cost. C. Yes, because price is less than average variable cost. D. No, because price is not greater than average total cost.