If total U.S. trade consists of $10 billion in electronics imports from Japan and $9 billion in automobile exports to Germany, then the U.S. net export account will be negative
a. True
b. False
Indicate whether the statement is true or false
True
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If the Fed focuses on price stability, the aggregate demand curve will be relatively ________, which shows that aggregate expenditure is ________ to changes in the inflation rate
A) flat; very sensitive B) flat; very insensitive C) steep; very sensitive D) steep; very insensitive
The features of the U-Form of firm organization are
a. workers have trouble developing a high degree of functional expertise b. employees can easily share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
The task of economic regulation is to
a. protect monopoly profits b. approximate the results of the competitive market c. replace competition with government ownership d. ensure laissez-faire e. increase competition within the market
For a particular good, a 3 percent increase in price causes a 10 percent decrease in quantity demanded. Which of the following statements is most likely applicable to this good?
a. The relevant time horizon is short. b. The good is a necessity. c. The market for the good is broadly defined. d. There are many close substitutes for this good.