If imports exceed exports it would be called a trade __________.
Fill in the blank(s) with the appropriate word(s).
deficit
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Which of the following are considered factors of production used to produce goods and services? I. Land II. Labor III. Capital IV. Entrepreneurship
A) I and II only B) I and III only C) I, II and III only D) I, II, III and IV
Refer to Figure 15.7. Suppose the Federal Reserve ________ bonds in the open market. The money supply will decrease and cause a shift from point ________.
A. sells; B to point C B. buys; B to point A C. buys; B to point C D. sells; C to point B
Using GDP per capita on a PPP basis, which of the following countries would fall between $3000 and $11,999?
A) Russia B) India C) Afghanistan D) Portugal
If the required reserve ratio is .10, demand deposits are $200 million, and total reserves are $40 million, then excess reserves are
A) $20 million. B) $40 million. C) $400 million. D) $2,000 million.