Positive net exports are treated like domestic investment in the national income accounts because they are
A) always part of inventories.
B) fixed assets not intended for resale.
C) they represent future flows of real income.
D) not intended for resale.
B
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Refer to the scenario above. The best approach to play this game is to use:
A) a dominant strategy. B) backward induction to come to a decision. C) a credible commitment to influence the payoffs of the game. D) a mixed strategy.
The processes a firm uses to turn inputs into outputs of goods and services is called
A) marginal analysis. B) positive economic analysis. C) technology. D) technological change.
The Phillips curve shows the relationship between
a. the rate of inflation and the rate of unemployment. b. the rate of growth of real GDP and the rate of unemployment. c. real prices and real GDP. d. the rate of inflation and the rate of growth of real GDP.
An exchange rate:
A. is the ratio of the dollar volume of a nation's exports to the dollar volume of its imports. B. measures the interest rate ratios of any two nations. C. is the amount that one nation must export to obtain $1 worth of imports. D. is the price that the currencies of any two nations exchange for one another.