In 2009, our goods and services trade deficit was almost $______ billion.
A. 300
B. 400
C. 500
D. 600
B. 400
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The socialist countries of Eastern Europe have
A. fewer environmental problems than capitalist countries. B. improved their environment more than the capitalist countries. C. worse environmental problems than capitalist countries. D. worsened since the collapse of communism there.
Professor's economics students are constructing models for how gasoline prices change. Maria's model has very realistic assumptions and is quite complex. Anna's model is less complicated and less realistic
Maria's model correctly predicts gas price increases 5% of the time. Anna's model predicts correctly 15% of the time. On the basis of usefulness or "goodness," Professor will give which student's model the higher grade and why? A) Maria's model gets the higher grade because it is more complex. B) Anna's model gets the higher grade because it is simpler. C) Maria's model gets the higher grade because it is more realistic. D) Anna's model gets the higher grade because it predicts accurately more often.
The short-run consumption curve may shift upward over the long run largely because
a. people become wealthier b. the marginal propensity to save increases c. the 45-degree line becomes a 90-degree line d. the demand curve for investment is upward sloping e. economic growth, although still positive, slows down
The aggregate price level is a topic of macroeconomics.
Answer the following statement true (T) or false (F)