Countries have trade surpluses when they export more than they import
Indicate whether the statement is true or false
TRUE
You might also like to view...
The GDP of Country X and Country Y were found to be equal in a particular year. However, the income per capita of Country X was higher than the income per capita of Country Y. This implies that ________
A) the population of Country X is higher than the population of Country Y B) the number of workers in country X is higher than the number of workers in Country Y C) the population of Country X is lower than the population of Country Y D) the number of workers in country X is lower than the number of workers in Country Y
Which of the following correctly explains the role of economic agents in a free market?
A) Economic agents set production quotas for sellers in the market. B) Economic agents set prices according to the production cost of each good. C) Economic agents allocate goods to those buyers who need the goods the most. D) Economic agents allocate goods to those buyers who value the goods the most.
One factor which did not influence the levels of real output and employment in the classical system was the
a. stock of capital. b. level of technology. c. the price level. d. size of the labor force.
The main effect on the economy of the financial sector crisis in late 2008 was
A. reduced aggregate supply. B. increased aggregate demand. C. reduced aggregate demand. D. increased aggregate supply.