In the economy of Talikastan in 2015, consumption was $600, exports were $300, GDP was $1300, government purchases were $250, and investment was $300 . What were Talikastan's imports in 2015?
a. -$150
b. -$200
c. $200
d. $150
d
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In the above figure, if five million CDs per month are produced and consumed, that is
A) better than producing and consuming four million CDs because more is always better than less. B) more than the efficient quantity because the marginal social benefit exceeds the marginal social cost. C) more than the efficient quantity because the marginal social cost exceeds the marginal social benefit. D) less than the efficient quantity because the opportunity cost exceeds the marginal social benefit.
A change in the price of a good causes
A) an increase in supply. B) a decrease in supply. C) an increase in demand and a decrease in supply. D) a change in quantity supplied.
European countries tend to rely more on consumption taxes than does the United States
a. True b. False Indicate whether the statement is true or false
According to the foreign trade effect, when the U.S. price level decreases, U.S. consumers are likely to buy:
A. More American-made products. B. Different American-made products. C. More foreign-made products. D. Less of all products, both American made and foreign made.