Egypt has exports of $500 million and imports of $750 million. Egypt
a. sells more overseas then it buys from overseas; it has a trade deficit.
b. sells more overseas then it buys from overseas; it has a trade surplus.
c. buys more from overseas then it sells overseas; it has a trade deficit.
d. buys more from overseas then it sells overseas; it has a trade surplus.
c
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Refer to the above figure. A budget deficit occurs when real national income is
A) Y3. B) Y1. C) Y2. D) None of the above: cannot be determined given the information.
Refer to the scenario above. Which of the following will be true if the service center has a reputation of trustworthiness?
A) The equilibrium outcome will be equitable. B) A unique equilibrium will not occur. C) Multiple equilibria will occur. D) The equilibrium outcome will be socially efficient.
The largest single portion of state and local budgets is devoted to
a. State and local defense. b. Health and public welfare programs. c. State and local unemployment compensation. d. Education. e. Interest payments on state and local debt.
The major objective of the European Central Bank is to control taxes as a means of deficit spending
a. true b. false