If Atlantis has an open economy, then it:
A. has a democratically elected government.
B. does not trade with other countries.
C. allows imports but not exports.
D. trades with other countries.
Answer: D
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Countries like the United States use ________ to offset foreign export subsidies
A) quotas B) the escape clause C) countervailing duties D) government procurement
Common stocks are ____ risky for the issuing corporation and ____ risky for the corporation’s stockholders, compared to other financial assets, such as bonds.
A. unusually; unusually B. less; more C. more; less D. very; not
Total government spending (federal, state, and local) sums to approximately:
a. 10 percent of the U.S. economy. b. 20 percent of the U.S. economy. c. 40 percent of the U.S. economy. d. one-half of the U.S. economy.
Within the Keynesian model, if the output of an economy is less than the full-employment level, then
a. a reduction in government expenditures will direct the economy back to full-employment equilibrium. b. a reduction in wage rates and resource prices will quickly restore full-employment equilibrium. c. a reduction in the real interest rate will soon restore full-employment equilibrium. d. output will tend to remain below full-employment capacity unless aggregate expenditures increase.