A country had a net capital outflow of $1.5 trillion and imports of $0.5 trillion. What was the value of its exports?
$2 trillion
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If the public switches from using cash for most transactions to using checks instead, then all else equal, the money supply will:
A. not change. B. decrease. C. either increase or decrease. D. increase.
The effective use of coercion in a society ultimately depends upon
A) fear. B) free enterprise. C) police enforcement. D) voluntary cooperation.
The idea that what’s good for one person may not be good for all people is known as the
a. cause-effect fallacy. b. fallacy of composition. c. moral hazard problem. d. disequilibrium position.
In the legal sector, some practice areas have declined in recent years
For example, personal-injury and medical-malpractice cases have been undercut by state laws limiting class-action suits, out-of-state plaintiffs, and payouts on damages, and securities class-action litigation has declined in part because of a buoyant stock market. How does this affect the market for lawyers? A) The quantity of lawyers demanded decreases and this is represented by a movement along the demand curve. B) The supply of lawyers shifts to the left. C) The demand for lawyers shifts to the left. D) Both the demand and supply curves decrease.