Net exports is defined as
A. exports plus imports.
B. exports minus imports.
C. imports minus exports.
D. that portion of consumption and investment goods sent to other countries.
B. exports minus imports.
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Use the following table to answer the next question.YearNominal GDPReal GDPPrice Index15,2004,800--25,500--11235,7505,000--What is the Consumer Price Index in year 1?
A. 105.2 B. 111.5 C. 108.3 D. 109.6
An expansion of the production possibilities frontier is
A) called economic growth. B) proof that scarcity is not a binding constraint. C) a free gift of nature. D) something that has occurred only rarely in history.
Suppose $1 billion is available in the budget and Congress is considering allocating the funds to one of the following three alternatives:
a. subsidies for education b. research on Alzheimer's c. increased border security If voters prefer a to b and b to c, then if preferences are transitive A) they should prefer c to a. B) they should prefer a to c. C) they should be indifferent between a and c. D) it is not always possible to rank voters' preferences between a and c.
In a two-period model, holding everything else constant, an increase in current-period income
A) unambiguously increases the current account surplus. B) unambiguously decreases the current account surplus. C) has an uncertain effect on the current account surplus. D) has no effect on the current account surplus.