Net exports equal:
A. exports plus imports.
B. exports minus depreciation.
C. the value added of exports.
D. exports minus imports.
Answer: D
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Marco goes to the pet store to buy a dozen Koi fish for his new Koi pond. He is willing to pay $200 for the dozen fish, but buys them for a total of $140. Marco's consumer surplus from the purchase is
A) $5. B) $60. C) $140. D) $200.
In 2009, the U.S. economy was experiencing an inflationary gap
a. True b. False Indicate whether the statement is true or false
In Japan, the market value of the land is approximately four times that of all the land in the United States, even though Japan is only about the size of California. The most likely explanation for this fact is
A. greater demand for land in Japan relative to the supply than in the United States. B. land is very productive in Japan. C. land is not fixed in supply in the United States. D. Japanese workers are very productive.
Which of these is an example of a negative network externality?
A) Bandwagon effect B) Pollution C) Snob effect D) Two-part tariff