A positive balance of trade is when ___________.
Fill in the blank(s) with the appropriate word(s).
exports are greater than imports
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The cost of basics like milk, bread, potatoes and bananas has jumped in the past year, forcing families to nix luxuries, steer away from organic goods and buy more house brands
"I think it's affecting everybody," said Elize Joseph 48, a nursing attendant. "To spend $40 on groceries is nothing. It doesn't go a long way." When food prices increase, what will happen to Elize's total utility? A) It increases. B) It stays the same. C) It decreases. D) It cannot be determined without knowing her total income.
If the Fed raises the legal reserve requirement to 40 percent, and if the total money supply is at its maximum and is $750, the initial deposit must have been
a. $40 b. $250 c. $300 d. $450 e. $1,875
Compute the marginal revenue when the price elasticity of demand is ?0.25.
A. ?0.33P, meaning that marginal revenue is negative and one-third of the price. B. 3P, meaning marginal revenue is positive and 3 times greater than price. C. ?3P, meaning marginal revenue is negative and 3 times greater than price. D. ?0.25P, meaning that marginal revenue is negative and one-fourth of the price.
Assume that in the short run a firm is producing 100 units of output, has average total costs of $100, and average variable costs of $50. The firm's total fixed costs are
A) $50. B) $5,000. C) $150. D) $15,000.