The balance of trade is defined as
A) the difference between the value of the goods and services a country exports and the value of the goods and services a country imports.
B) the difference between the balance of the current account and the balance of the capital account.
C) the difference between the balance of the current account and the balance of the financial account.
D) the difference between the value of the goods a country exports and the value of the goods a country imports.
D
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In the new Keynesian model, the ultimate effect on output of an anticipated aggregate demand shock is ________
A) less than if that event was unanticipated B) greater than if that event was unanticipated C) the same as would develop if that event had never occurred D) dependent on whether or not that event is temporary or permanent
To the extent that the political process of moving legislation through Congress is slow
A) the effect time lag will be long. B) the recognition time lag will be long. C) the action time lag will be long. D) automatic stabilizers will not be effective.
If Linda's income goes up, she will consume more of all normal goods.
Answer the following statement true (T) or false (F)
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. An increase in the number of cattle ranchers will cause a movement from
A. Point B to Point A. B. D2 to D1. C. S2 to S1. D. Point G to Point F.