Negative net exports represent reduced investment because
A) payments for imports will be used by foreigners to buy domestic goods in the future.
B) payments for exports will be used by foreigners to buy domestic goods in the future.
C) payments for imports will be used by U.S. citizens to buy domestic goods in the future.
D) None of the above.
A
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Which of the following factors of production is not variable in the long run?
a. the size of the firm's plant. b. property taxes on the assets of the firm. c. highly trained labor. d. All factors of production are variable in the long run.
Patty runs a small organic peanut butter company with five employees and local sales of $100,000 per year. She estimates that the shape of her total variable cost curve largely reflects her costs of
a. peanuts b. electricity c. packaging d. labor e. marketing
The clear winners from the quota are the ________, and the losers are the ________.
A. domestic producers; domestic consumers B. importers; domestic producers C. domestic consumers; domestic producers D. government; domestic consumers
Which of the following transactions is excluded from GDP?
A. You buy a government bond for $100. B. Intel buys a new jet to ferry its workers from its Folsom, CA headquarters to Santa Clara. C. The local government spends $500,000 for a new park. D. The Brazilian air force buys jets from the U.S. air force.