Net exports are positive when exports are greater than imports.
Answer the following statement true (T) or false (F)
True
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The total production within an economy is measured as
A) Total Domestic Output. B) Total Annual Output. C) Annual Production Value. D) Gross Domestic Product. E) Gross Home Product.
If the price of refillable butane lighters was to decrease, then
A) the quantity of butane demanded would increase. B) the demand for butane would decrease. C) the demand for butane would increase. D) the quantity of butane demanded would decrease.
If the market price is at equilibrium, the deadweight loss is maximized
Indicate whether the statement is true or false
The reason that inflation rarely harms workers is that
A. wages rise at the same time prices rise. B. wages fall when prices rise. C. nominal income falls as prices rise. D. the minimum wage rate automatically rises when the price level rises.