If the budget deficit increases, then
a. U.S. residents will want to purchase more foreign assets and foreign residents will want to purchase more U.S. assets
b. U.S. residents will want to purchase more foreign assets and foreign residents will want to purchase fewer U.S. assets
c. U.S. residents will want to purchase fewer foreign assets and foreign residents will want to purchase more U.S. assets
d. U.S. residents will want to purchase fewer foreign assets and foreign residents will want to purchase fewer U.S. assets
c
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Social cooperation by means of voluntary contracts and exchanges
A) cannot occur in a socialist economic system. B) cannot occur where government sets rules that restrict behavior. C) is easier to achieve when the laws of the society are clear and unchanging. D) is harder to achieve when the members of the society own very little material property in common.
The Japanese yen makes up the largest portion of the international bond market.
a. true b. false
One of the reasons that Real Gross Domestic Product is not synonymous with social welfare is
A. it treats all spending the same (spending on military hardware is treated the same as spending on education). B. quality has remained steady. C. things produced by people under 18 are not counted. D. people substitute between goods.
Which of the following is one of the simplifying assumptions made in constructing a production possibilities curve?
A. The state of technology is constantly changing B. A wide variety of products are produced C. Resources are fully employed and are used in least-cost methods of production D. Quantities of available resources in the economy vary from one point to another