Net exports of goods and services is equal to the value of
A) exports plus the value of imports.
B) imports minus the value of exports.
C) domestic consumption minus the value of imports.
D) exports minus the value of imports.
E) domestic consumption minus the value of exports.
D
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For movements along the long-run aggregate supply curve
A) potential GDP is dependent on the price level. B) the prices of goods and services change while the prices of productive resources hold steady. C) the price level and the money wage rate change by the same percentage. D) All of the above are correct.
Security purchases by citizens of the United States on foreigners markets is
A) a credit item in the current account. B) a debit item in the capital account. C) a credit item in the capital account. D) a debit item in the current account.
If you know that with 8 units of output, average fixed cost is $40 and average variable cost is $25, then total cost at this output level is:
a. $320 b. $200 c. $520 d. $1000
Import tariffs are ___________ on imports, and import quotas are ____________ on imports.
a. subsidies; taxes b. limits; subsidies c. taxes; limits d. limits; taxes