If net exports are a negative number, then:
a. we are not buying enough exports.
b. we are buying too many exports.
c. GDP will underestimated when measured using the expenditure approach.
d. we are exporting more than we are importing.
e. we are exporting less than we are importing.
e
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What determined the exchange rates among currencies under the gold standard, and what caused the gold standard to collapse?
What will be an ideal response?
Which of the following is the most common form of business organization in the United States?
A) proprietorship B) partnership C) corporation D) S-corporation
To promote economic efficiency, government should
a. keep all prices as low as possible. b. keep all prices high so that people will save more money. c. allow the market to set low prices for abundant goods and high prices for scarce goods. d. never interfere with firms' price setting powers.
Which of the following is true?
A) The Cobb-Douglas production function exhibits increasing returns to scale. B) The sum of the coefficients of capital and total efficiency units of labor in a Cobb-Douglas production function is less than 1. C) The Cobb-Douglas production function exhibits constant returns to scale. D) The sum of the coefficients of capital and efficiency units of labor in a Cobb-Douglas production function is greater than 1.