When the value of exports exceeds the value of imports then
A) changes in productivity will occur.
B) international trade is in balance.
C) the country is running a trade deficit.
D) the country is running a trade surplus.
D
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Suppose you had information on the sales of similar homes just east and just west of the boundary between two school districts. How could you use those data to estimate the value parents place on the quality of their children's schools?
What will be an ideal response?
Which of the following could cause nominal GDP to decrease, but real GDP to increase?
A) The price level rises and the quantity of final goods and services produced rises. B) The price level falls and the quantity of final goods and services produced falls. C) The price level rises and the quantity of final goods and services produced falls. D) The price level falls and the quantity of final goods and services produced rises.
Refer to Figure 11.1. Assume the economy is in equilibrium at 1 = 0. Other things equal, an unexpected large increase in the price of oil will result in a movement from point ________ to point ________
A) A; B B) B; A C) A; C D) A; D
When quantity demanded is greater than quantity supplied
A. price will fall to its equilibrium price. B. price will rise to its equilibrium price. C. price may rise, fall, or stay the same, depending on a variety of factors.