Imports equal
A. 1 - exports.
B. net exports/exports.
C. exports + (exports - imports).
D. exports - net exports.
Answer: D
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Using the data in the above table, in the short-run macroeconomic equilibrium, the price level is ________ and the level of real GDP is ________
A) 105; $10 trillion B) 110; $10 trillion C) 110; $11 trillion D) 115; $10 trillion
After getting a raise at work, Jennie now regularly buys steak instead of hamburger. Based on this behavior, we can assume:
A. steak is a normal good, and hamburger is an inferior good for Jennie. B. steak is an inferior good, and hamburger is a normal good for Jennie. C. steak and hamburger are complementary goods for Jennie. D. steak and hamburger are normal goods for Jennie.
Workers in the 1800s building railroads by hand was an example of a(n) ____ intensive form of production
a. capital b. labor c. entrepreneurial d. working
The Endangered Species Act is an attempt to
A. protect endangered species from the overzealousness of many environmentalists. B. protect species endangered because there are no private property rights on them. C. protect endangered species against greedy loggers, farmers, and business people. D. prevent some people from earning a good living.