During the Revolutionary War, the U.S. trade deficit increased because:
a. U.S. imports decreased, while U.S. exports increased.
b. U.S. imports increased, while U.S. exports decreased.
c. U.S. exports decreased more than U.S. imports decreased.
d. U.S. imports decreased more than U.S. exports decreased.
c. U.S. exports decreased more than U.S. imports decreased.
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The difference between consumption spending and disposable income _____
a. decreases as income increases b. stays proportionally the same as income increases c. decreases if the interest rate increases d. equals the amount of taxes paid e. equals saving
Equity markets are markets:
A. for stocks. B. for AAA rated bonds. C. for either stocks or bonds. D. of U.S. Treasury bonds.
Explain the two types of market failure and given an example of each one
Please provide the best answer for the statement.
If there is no output for which product price is sufficient to cover variable costs
A) the firm should stay open in the short-run. B) the firm should shut down in the short run. C) the firm earns economic profits by staying open. D) the firm should increase production.