What was the balance of trade in 2017?
a. -$808 billion
b. -$552 billion
c. -$449 billion
d. $0 billion
a. -$808 billion
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A change in the quantity demanded of a product is the result of a change in
A) consumer income. B) the price of the product. C) the cost of producing the product. D) the price of related goods.
Using this consumption function, the marginal propensity to consume is
A) 1.33. B) 0.75. C) $1.5 trillion. D) $2 trillion. E) 0. The figure above shows three different consumption functions for a nation.
Suppose the interest rate is 7 percent. Consider four payment options: Option A: $500 today. Option B: $550 one year from today. Option C: $575 two years from today. Option D: $600 three years from today. Which of the payments has the lowest present value today?
a. Option A b. Option B c. Option C d. Option D
United States coins and currency are backed by
A. reserves of foreign currencies. B. confidence that they will retain their value. C. silver. D. gold.