Which of the following will cause a decrease in U.S. gross exports?
A. A decrease in foreign business purchases of U.S. output.
B. An increase in foreign consumer income.
C. An increase in foreign wealth.
D. None of the choices are correct.
Answer: A
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When consumer spending is high, the economy usually is in a(n)
A. depression. B. growth stage. C. inflationary period. D. recession.
Money is an imperfect store of value when
A. the rate of inflation is high. B. the unemployment rate is high. C. gold prices are falling. D. businesses are failing due to bankruptcy.
External costs are those costs:
A. that are both social costs and private costs. B. that fall directly on an economic decision maker. C. that fall indirectly on an economic decision maker. D. that are imposed without compensation on someone other than the person who caused them.
Lionfish is an aquatic invasive species in the southeastern U.S. and the Caribbean. Current removal policies focus on harvesting the lionfish for human consumption. Assuming that lionfish is a substitute for snapper, what will likely happen to fishing efforts for lionfish if the price of snapper increases?
A) Fishing efforts will increase. B) Fishing efforts will decrease. C) Fishing efforts will remain the same if supply is perfectly inelastic. D) A and C