If a country's currency depreciates, the country will experience a ________ in exports and a ________ in imports
A) rise; rise B) fall; fall C) rise; fall D) fall; rise
C
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A nonexcludable public good is
A. nonrivalrous in consumption. B. rivalrous in consumption. C. asymmetric. D. a good for which it is impossible (or prohibitively costly) to exclude someone from receiving the benefits of its services. E. a and d
Generally, if a nation imposes a tariff on imports,
a. part of the tax is paid by foreign exporters. b. the entire tax is paid by foreign exporters. c. none of the tax is paid by foreign exporters. d. the tax has no impact on the profits of foreign exporters.
Total product begins to fall when:
A. average product is below zero. B. marginal product is maximized. C. marginal product is zero. D. average product is negative.
Figure 32-1
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In Figure 32-1, there are four levels of income. G is government expenditures and TT is taxes less transfers. Y3 is the full-employment level of income. At Y3
A. there is an official deficit but a structural budget balance. B. there is a structural deficit but an official budget surplus. C. the official and structural deficit are in balance. D. both the official and structural budgets show a deficit.