If a country sells more goods and services abroad than it purchases abroad, it has positive net exports and a trade surplus
a. True
b. False
Indicate whether the statement is true or false
True
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The market where businesses sell goods and services to households and the government is called the:
A. goods market. B. money market. C. capital market. D. factor market.
Suppose Mario is given a monthly income of $400 to spend on food while at college. Further, suppose the price of a frozen meal is $8 and the price of a cup of soup is $4. Which one of the following consumption combinations is possible given these prices and income?
A. 40 frozen meals, 50 cups of soup B. 15 frozen meals, 80 cups of soup C. 20 frozen meals, 60 cups of soup D. 10 frozen meals 100 cups of soup
In the United States, which of the following is an example of a government-inhibited good?
A) museums B) movies C) cocaine D) sports stadiums
If aggregate demand increases, thereby leading to an increase in real GDP and inflation, there is
A) a leftward shift in the short-run Phillips curve. B) a movement downward along the short-run Phillips curve. C) a movement upward along the short-run Phillips curve. D) a rightward shift in the short-run Phillips curve. E) neither a movement along nor a shift in the short-run Phillips curve.