The value of a country's exports during a particular year was $610,000 and the value of its imports was $995,000. Which of the following is true?
A) The country ran a fiscal deficit of $605,000 during that year.
B) The country ran a trade surplus of $385,000 during that year.
C) The country ran a trade deficit of $385,000 during that year.
D) The country ran a budget surplus of $1,605,000 during that year.
C
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Keynesian analysis stresses that a tax cut that increases the government's budget deficit or reduces its budget surplus:
a. is appropriate during a period of inflation. b. will increase the money supply. c. will stimulate aggregate supply and, thereby, promote employment. d. will stimulate aggregate demand and, thereby, promote employment.
Jason buys only music downloads and food with his weekly income. In response to a decrease in the price of downloads, he buys more downloads and less food. As a result, we would expect: a. the marginal utility of downloads to increase and the marginal utility of food to decrease. b. the marginal utility of both downloads and food to remain unchanged
c. the marginal utility of downloads to decrease and the marginal utility of food to increase. d. the marginal utility of food to become negative.
Keynesian economics:
A. affirms the classical economists' basic premise concerning competitive markets. B. believes that monopolies and unions tend to be permanent fixtures in our economy and the prices they create tend to be flexible, at least downwardly. C. emphasizes the possibility that an economy can never be in equilibrium at less than full employment. D. believes that unemployment results when aggregate demand is insufficient to reach a full-employment level of real GDP.
Recall the Application about running a software programming business to answer the following question(s).If you have $10,000 to start a software development business, the interest rate is 4 percent, your cost of your computer is $5,000, and the earnings you sacrifice from working at another job are $32,000, your yearly cost of doing business would be:
A. $47,000. B. $47,400. C. $37,400. D. $37,000.