How are net exports calculated?
What will be an ideal response?
To calculate the net exports component of GDP, you take the gross exports of a country and subtract gross imports of that country. The result of this equals net exports, and this figure (which is sometimes positive and sometimes negative) is added to the GDP.
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Moving between two points on a PPF, a country gains 8 desktop computers and forgoes 4 laptop computers. The opportunity cost of 1 desktop computer is
A) 4 laptops. B) 1/2 of a lapto
The economic way of thinking views government as a social institution
A) in which people do not compete. B) in which the public interest has priority over private interests. C) whose actions are controlled by the will of the majority. D) whose actions are determined by individuals' perceptions of their self-interest.
In the modern U.S. economy, the typical unemployed person stays unemployed for
A) an amount of time that is hard to quantify. B) a long time during expansions and a short time during recessions. C) a relatively long time, over a year. D) a relatively short time, less than six months.
The money supply decreases if
a. households decide to hold relatively more currency and relatively fewer deposits and banks decide to hold relatively more excess reserves and make fewer loans. b. households decide to hold relatively more currency and relatively fewer deposits and banks decide to hold relatively fewer excess reserves and make more loans. c. households decide to hold relatively less currency and relatively more deposits and banks decide to hold relatively more excess reserves and make fewer loans. d. households decide to hold relatively less currency and relatively more deposits and banks decide to hold relatively less excess reserves and make more loans.