The difference between the exports and imports of goods in a country is referred to as the
A) balance of payments.
B) balance of trade.
C) balance of power.
D) exchange rate.
B
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Many economists believe that when the federal government establishes an agency to regulate a particular industry, the regulated firms try to influence the agency even if these actions do not benefit the public
Economists refer to this result of government regulation by which of the following terms? A) special-interest regulation B) regulatory capture C) the regulatory paradox D) logrolling
You use $5,000 of your own money to start a dog-walking business. During the first year you earn a 5% return on your investment. If the current interest rate on savings is 8%, you earn an economic profit of
A. -$150. B. $150. C. $250. D. $400.
Suppose the Federal Reserve buys bonds from the banking system, the money supply curve ________.
A. will become flatter B. will become steeper C. shift to the left D. shift to the right
Using the rule of 70, a sustained 3 percent per year real GDP growth rate will
A) last for 70 years. B) double the current level of real GDP in about 23 years. C) double the current level of real GDP in about 210 years. D) double the current level of real GDP in about 70 years. E) double the current level of real GDP in about 40 years.