Refer to the table shown. In trillions of dollarsConsumption3.5Investment1.2Government Purchases1.8Exports0.6Imports0.4What are the economy's net exports?
A. ?$0.4 trillion
B. $1.0 trillion
C. $0.2 trillion
D. ?$0.2 trillion
Answer: C
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Empirical studies indicate that the maximum amount of air pollution occurs ________ levels of real GDP per person.
A. at the lowest B. at "middle-income" C. equally at all D. at the highest
If the cross elasticity of demand is negative, that means the goods
A) have elastic demands. B) have inelastic demands. C) are complements. D) are substitutes. E) are inferior.
Elasticity rises as price falls along a linear, downward-sloping demand curve
a. True b. False
The theory of public choice examines
A. The role of self-interest in public decisions. B. How to apply cost-benefit analysis. C. The optimal government intervention to correct market failures. D. How a policy of laissez faire works to allocate resources.