Which of the following statements is correct?
A. An increase in exports will tend to increase, and an increase in imports will tend to decrease, the equilibrium GDP
B. An increase in exports and an increase in imports will both tend to increase the equilibrium
GDP
C. An increase in exports and an increase in imports will both tend to decrease the equilibrium
GDP
D. An increase in exports will tend to decrease, and an increase in imports will tend to
increase, the equilibrium GDP
A. An increase in exports will tend to increase, and an increase in imports will tend to decrease, the equilibrium GDP
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The reason protectionism remains strong in the United States is that
A) economists can produce any result they are hired to produce. B) economists cannot persuade the general public that free trade is beneficial. C) economists do not really understand how the real world works. D) the losses associated with protectionism are diffuse, making lobbying by the public impractical. E) economists cannot agree on trade policy recommendations.
What happens when the central bank decides it will sell bonds using open market operations?
a. Interest rates decrease. b. The money supply increases. c. The money supply decreases. d. The money supply is unaffected.
Pollution is an example of a
A) public good. B) positive externality. C) private cost. D) negative externality
If 1 U.S. dollar exchanges for 8.97 pesos, how much would it cost in pesos to purchase a Big Mac priced at $2.75?
What will be an ideal response?