Answer the question on the basis of the following data. All figures are in billions of dollars: Government Purchases 15 Consumption 90 Gross Investment 20 Consumption of Fixed Capital 5 Exports 8 Imports 12 Refer to the above data. NDP is:
a) $116.
b) $121.
c) $125.
d) $150.
a) $116.
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Before 1970 the United States generally had a trade ________ and since 1970 the United States has generally run a trade ________.
A. deficit; deficit B. deficit; surplus C. surplus; deficit D. surplus; surplus
Command-and-control policies lead to higher prices for consumers than pollution taxes do.
Answer the following statement true (T) or false (F)
Which antitrust act was passed to protect independent retailers from "unfair discrimination" by chain stores?
A) Federal Trade Commission Act B) Robinson-Patman Act C) Sherman Act D) Wheeler-Lea Act
A society can produce two goods: donuts and beer. The society's production possibility frontier is negatively sloped and "bowed outward" from the origin. As this society moves up its production possibility frontier, producing more and more units of donuts, the opportunity cost of producing beer
A. increases. B. decreases. C. remains constant. D. could decrease or increase depending on the technology.