In a closed economy S = I, so in an open economy:
A. S = I ? NX.
B. S + I = NX.
C. S + NX = I.
D. S = I + NX.
Answer: D
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Define the process of queuing
What will be an ideal response?
Compared to an electronic payments system, a payments system based on checks has the major drawback that
A) checks are less costly to process. B) checks take longer to process, meaning that it may take several days before the depositor can get her cash. C) fraud may be more difficult to commit when paper receipts are eliminated. D) legal liability is more clearly defined.
One problem with employer mandated health insurance is _____
a. it increases the cost of hiring employees b. it makes it difficult to employ highly-skilled individuals c. it provides universal coverage d. it creates moral hazard
Cross-price elasticity is very low in monopolistic competition.
Answer the following statement true (T) or false (F)