An economy that does not have interactions in trade or finance with other economies is referred to as
A) a closed economy. B) an open economy.
C) a net foreign investment economy. D) a trade-balanced economy.
A
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On a diagram with "calories consumed per day" on the horizontal axis and "exercise per day" on the vertical axis, we can draw a line along which your body weight at this moment will remain constant
This line is analogous to how ________ for changing values of the variables on the two axes. A) the IS curve holds income constant B) the IS curve holds the demand for money constant C) the LM curve holds the demand for money constant D) the LM curve holds income constant
Refer to the above table. What is the market quantity demanded of DVDs at a price of $12?
A) 6 B) 9 C) 12 D) 24
Consider a two-good production economy in which both goods are produced with fixed proportions production functions. Then, some efficient allocations will exhibit unemployment of some factor providing:
a. the firms use the inputs in different proportions. b. the firms exhibit diminishing returns to scale. c. the firms exhibit increasing returns to scale. d. production can never be efficient if there are unemployed inputs.
The income-expenditure multiplier arises because one person's additional spending becomes another person's additional income that will generate additional:
A. cyclical unemployment. B. spending. C. autonomous expenditure. D. menu costs.