If a wealthy nation such as the United States trades with a poorer, less developed nation like Cambodia, then it is likely true that:
A. Cambodia is pressured to enter trade and not benefiting at all.
B. the United States is being charitable and not benefiting from the trade at all.
C. the United States is taking advantage of Cambodia and is the only beneficiary to the trade.
D. both the United States and Cambodia can benefit from trading.
Answer: D
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In a certain economy, the components of aggregate spending are given by: C = 60 + 0.6(Y - T) - 1,000rI = 200 - 1,000rG = 200NX = 50T = 100Given the information about the economy above, what is the short-run equilibrium output if the real interest rate is 4 percent?
A. 925 B. 450 C. 1,125 D. 370
________ is defined as a sustained ________ in the price level
A) Inflation; fall B) Deflation; fall C) Deflation; rise D) Answers A and C above are both true.
The risk of making a loan is
A) earning profits that are too high and cause higher taxes. B) the risk that lender does not pay. C) the risk that the borrower does not pay. D) called "default risk" when taxes are not paid.
Which entity produces the greatest proportion of U.S. gross national product?
A) government B) non-profit organizations such as hospitals C) firms D) universities