In calculating the nation's total output, net exports
a. represent exports of goods and services minus imports of goods and services.
b. have been a negative number in the last several years.
c. would include purchases of U.S.-made automobiles by foreigners minus purchase of foreign-made automobiles by U.S. residents.
d. All of the above are correct.
d
You might also like to view...
While the Fed has a "dual mandate" of goals to achieve, most economists believe that in the long run the single key role is attaining
A) price stability. B) high inflation rates. C) low economic growth rates. D) high levels of income and output. E) stable velocity of money.
Refer to Table 2-2. Assume Billie's Bedroom Shop only produces pillows and blankets. A combination of 5 pillows and 21 blankets would appear
A) along Billie's production possibilities frontier. B) inside Billie's production possibilities frontier. C) outside Billie's production possibilities frontier. D) at the vertical intercept of Billie's production possibilities frontier.
So long as marginal cost is greater than average variable cost, both average variable cost and average total cost must increase as output is increased
Indicate whether the statement is true or false
Minimum-wage laws
a. reduce unemployment. b. cause labor shortages, which further raise wages above equilibrium. c. affect highly-educated workers more than high school dropouts. d. None of the above is correct.