Refer to the above data. This nation's exports are:
a. $9 billion
b. $28 billion
c. $16 billion
d. $24 billion
Answer: d. $24 billion
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The required reserve ratio ranges from
A) 0 to 3 percent. B) 0 to 7 percent. C) 3 to 30 percent. D) 0 to 10 percent.
Microeconomics analyzes individual parts of the economy rather than broad economic aggregates
a. True b. False
Which of the following is the injection into the circular flow model?
a. Money deposited in a savings account. b. Income earned through exports. c. Goods imported from abroad. d. Taxes paid by the individuals.
Sometimes an old company in an industry can build a large plant that has lower cost per unit than a potential entrant (newcomer) can duplicate. This is an example of a market
A. weakness based on cost. B. power based on scale economies. C. weakness based on reputation deficiency. D. power based on specific assets.