Exports are domestically produced goods and services
A) sold at home.
B) sold to other countries.
C) sold to the government.
D) which are used to produce other goods and services.
B
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The following table provides nominal exchange rates for the U.S. dollar.CountryForeign currency/dollarDollar/foreign currencyCanada(Canadian dollar)1.488.672Mexico(Peso)9.259.108Based on these data, the nominal exchange rate equals approximately ________ pesos per Canadian dollar or, equivalently, ________ Canadian dollars per peso.
A. 9.259; 0.108 B. 7.771; 0.129 C. 0.672; 1.488 D. 6.222; 0.161
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
When products that create positive externalities are produced, at the market equilibrium output, the social benefit generated by consuming the product exceeds the private benefit
Indicate whether the statement is true or false
The domestic market failure argument is a particular case of the theory of
A) the optimum, or first-best. B) the second best. C) the third best. D) the sufficing principle. E) the efficiency case for free trade.