In 2014, which of the following countries had the highest ratio of exports to GDP?
A) Germany
B) Netherlands
C) Japan
D) United States
E) Austria
B
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During 2015, a country reports aggregate planned expenditures of $5 trillion and an actual real GDP of $4 trillion. During 2015,
A) inventories are less than planned. B) inventories are greater than planned. C) actual aggregate expenditures are greater than real GDP. D) actual aggregate expenditures are less than real GDP. E) inventories are unaffected.
The Federal Reserve uses dynamic open market operations to
A) alter the money multiplier. B) alter the growth path of bank reserves. C) inject reserves temporarily into the system. D) take reserves temporarily from the system.
If the demand for a monopoly's output shifts leftward, the change in quantity produced is NOT predictable because
A) the monopoly is a profit maximizer. B) the monopoly is a price taker. C) the monopoly has no supply curve. D) the monopoly's marginal cost curve might not be upward sloping.
One country will have a comparative advantage over another if its production possibilities a. frontier is higher
b. curve has a different slope. c. curve lies closer to the origin. d. curve lies farther from the origin.