Net exports is a positive number when a nation ________.
A. simply exports goods and services to other nations
B. exports more goods and services than it imports
C. exports fewer goods and services than it imports
D. increases its exports of goods and services
Answer: B
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Suppose the exchange rate between the U.S. dollar and the French franc is 0.25 francs per dollar. If a television sells for 100 francs in France, what is the dollar price of the television set?
A) $400 B) $25 C) $50 D) $200
Economic profits differ from accounting profits because ________
A) the former is calculated by economists and the latter by accountants B) many firms own their own capital so accounting profits do not factor this cost C) most firms report economic profits once a year and accounting profits every pay period D) all of the above E) none of the above
The type of good with the largest import in the U.S. is:
A. capital goods. B. consumer goods. C. industrial goods. D. automobiles.
During a primary election, Candidate A receives 45% of the vote, Candidate B receives 30%, and Candidate C receives 25%. This situation illustrates which of the following?
a. A voting cycle b. Partisan politics c. The electoral college d. The median voter result