For developing countries:
A. encouraging imports only tends to be more successful than encouraging exports.
B. trade can be a major source of development.
C. it is best if they avoid trade until ready to compete globally.
D. encouraging exports only tends to be more successful than encouraging imports.
Answer: B
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According to the new classical system, an unanticipated increase in the money stock
a. will shift the aggregate supply schedule only. b. will shift the aggregate demand schedule only. c. will shift both the aggregate demand and aggregate supply schedules. d. None of the above
A price ceiling leads to? a(n) ________ if it is set below the equilibrium price.
Because the marginal tax rate rises as income rises,
a. higher income families, in general, pay a larger percentage of their income in taxes. b. lower income families, in general, pay a larger percentage of their income in taxes. c. a disproportionately large share of the tax burden falls upon the poor. d. higher income families pay the same percentage of their income in taxes as lower-income families.
The country of Elbia has a GDP of $2,000 . consumption of $1,300, and government purchases of $400 . Which of the following is equal to $300?
a. domestic investment b. domestic investment plus net capital outflow c. domestic investment minus net capital outflow d. None of the above is correct.