Which of the following would be recorded in the U.S. goods export account?
a. Harry, an American citizen, spends 1,000 francs on vacation in the south of France.
b. A machine shop in Ohio purchases a grinder made in Italy.
c. Martha receives a $50 dividend check on stock she owns in a business in Germany.
d. The U.S. government subsidizes American farmers for planting corn for export.
e. France purchases a new jet fighter aircraft from the Boeing Company in the United States.
e
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Which of the following best describes scarce resources?
A) Resources that most people cannot afford to buy B) Resources that can only be distributed efficiently by the government C) Resources for which the quantity demanded is the same for all economic agents D) Resources for which the quantity that people want exceeds the quantity that is freely available
While purchasing _____ an individual whose cost of time is low will visit a larger number of dealers compared to the individual whose cost of time is high
a. a rare piece of jewelry b. a refrigerator c. a pair of jogging shoes d. a cabinet for keeping books
Some economists believe that policy makers should avoid stabilization policy because
a. lags make the policy impact unpredictable. b. no tax cut ever stimulated demand. c. stabilization policies are rarely signed into law. d. it never works.
For infant industry tariff protection to be valid requires that
A) the tariff must be allowed to last forever. B) only industries that currently are producing efficiently should be protected. C) government officials must predict which industries will eventually be able to compete with more established foreign producers. D) the industries protected must have substantial monopoly power in the absence of foreign competition.