The sum total of a nation's net trade, i.e., its exports minus imports in a given year, defines its _________.
A. economies of scale
B. economic globalization
C. balance of trade
D. comparative advantage
E. trade surplus
Answer: C. balance of trade
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A Treasury expenditure financed through borrowing from the Federal Reserve will cause the money supply
A) and bank reserves to rise by an equal amount. B) and bank reserves to fall by an equal amount. C) to rise but bank reserves to rise by a greater amount. D) to rise by a greater amount than the rise in bank reserves.
When a market is in disequilibrium consumers and producers change their behavior. As a result the market reaches equilibrium
Indicate whether the statement is true or false
Which of the following is the correct formula for determining the civilian unemployment rate?
a. [(the number of unemployed, working-age civilian seeking work)/(the number of civilian in the labor force)] x 100. b. C + I + G + (X-M). c. The total number of unemployed, working-age civilians seeking work. d. (The number of civilian in the labor force) x 100.
Generally speaking, the more competitive a country's markets are, the greater are the opportunities for corruption
a. True b. False Indicate whether the statement is true or false