If domestic saving is less than domestic investment, then a country will have a ________ and positive net capital ________.
A. trade surplus; outflows
B. trade deficit; inflows
C. trade balance; inflows
D. trade deficit; outflows
Answer: B
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Which of the following statements correctly highlights a difference between real GDP and nominal GDP?
A) Real GDP includes the value of goods and services produced by foreign firms, while nominal GDP does not. B) Real GDP strips out the effect of changing prices on the value of goods and services produced, while nominal GDP does not. C) Real GDP includes the value of goods and services produced by domestic firms in foreign countries, while nominal GDP does not. D) Real GDP does not take into account the value of goods produced and also services provided, while nominal GDP takes these into account.
The gaps between the United States and the Asian countries of Honk Kong, Singapore, Korea and China have been
A) decreasing B) increasing C) remaining fairly constant D) there are no gaps between these Asian countries and the United States
Suppose the price of capital and labor remain constant. As a firm's expenditures for capital and labor increase, its isocost line
A) rotates outward on the Y-intercept. B) shifts in parallel to the original isocost line. C) rotates outward on the X-intercept. D) shifts out parallel to the original isocost line.
This table shows the different combinations of goods that Jack can consume, given that his income to spend on these two items is $10.BundleNumber of popsiclesUtility from popsiclesNumber of ice cream conesUtility from ice cream conesA1070000B87201500C66502700D45503750E24004760F005760Considering the information in the table shown, Jack's total utility from consuming bundle D would be:
A. 1,160. B. 1,300. C. 2,220. D. 950.