Net exports is a positive number when:
A. a nation's exports of goods and services exceed its imports.
B. depreciation is greater than gross private domestic investment.
C. gross private domestic investment is greater than depreciation.
D. a nation's imports of goods and services exceed its exports.
Answer: A
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When firms set prices by adding a fixed percentage markup to marginal costs, they are likely
A) concerned with the rate of profit rather than its net amount. B) earning a satisfactory rather than a maximum profit. C) exploiting their customers. D) poorly managed. E) searching for the most advantageous prices to set on the basis of limited information.
If all of the returns to a resource are in the form of economic rent,
a. the price of that resource is determined exclusively by supply b. the price of that resource is determined exclusively by demand c. the price and quantity of that resource are determined exclusively by supply d. the price and quantity of that resource are determined exclusively by demand e. the equilibrium price is zero
As a standard of deferred payment, money can be used to:
a. express debt obligations in the form of purchasing power. b. foster barter activity. c. facilitate exchanges of goods and services. d. achieve a common denominator for measuring the value of goods and services. e. ascertain the liquidity of financial assets.
Money spent on the purchase of a new house is included in the GDP as a part of:
a. Personal saving b. Investment c. Personal consumption expenditures d. The consumption of private fixed capital