The importance of international trade in the U.S. economy
A. has been decreasing and is expected to continue to decrease.
B. has been increasing but is expected to decrease in the future.
C. has been increasing and is expected to continue to increase.
D. has been decreasing but is expected to start to increase.
Answer: C
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The Federal Reserve fears that the United States economy is growing too slowly and is stuck in a recession. To move the economy back to its potential GDP, the most likely policy action for the Fed is to ________ the federal funds and thus ________
A) raise; increase aggregate demand B) raise; decrease aggregate demand C) lower; increase aggregate supply D) lower; decrease aggregate supply E) lower; increase aggregate demand
Cartels are unstable for each of the following reasons except which one?
A) entry by new firms B) the self-interest of each member C) barriers to entry D) the bargaining necessary to form a cartel
In the long run, a decrease in the money supply growth rate
a. shifts the short-run Phillips curve left so inflation returns to its original rate. b. shifts the short-run Phillips curve left so unemployment returns to its natural rate. c. Both A and B are correct. d. None of the above is correct.
Taylor has the following assets and liabilities: Two cars$15,000House$400,000Mortgage$300,000Cash$1,000Car loans$5,000Checking account balance$3,000Credit card balance$3,000 What is Taylor's wealth?
A. $105,000 B. $107,000 C. $419,000 D. $111,000