In the economy of Talikastan in 2015, consumption was $700, exports were $200, government purchases were $300, imports were $150, and investment was $400 . What was Talikastan's GDP in 2015?
a. $1350
b. $1450
c. $1050
d. $1750
b
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A monopoly ________
A. can choose its price and output and always has the option of price discriminating B. is a price taker and by offering a range of discounts can price discri-minate C. that produces a good that cannot be resold might choose to price dis-criminate D. book store that offers a discount on Tuesdays is price discriminating
It is possible for the U.S. to gain from trade with Germany even if it takes U.S. workers fewer hours to produce every good than it takes German workers
a. True b. False Indicate whether the statement is true or false
Income transfers are current payments to individuals for which no current goods or services are exchanged.
Answer the following statement true (T) or false (F)
Deflation can cause widespread bank crises for all of the following reasons except:
A. information asymmetry problems decrease during deflationary periods. B. borrowers' default rates increase. C. bank balance sheets deteriorate as the level of economic activity decreases. D. a decline in the value of borrowers' net worth but not their liabilities.