A firm in China sells toys to a U.S. department store chain. Other things the same, these sales
a. increase U.S. net exports and decrease Chinese net exports.
b. decrease U.S. net exports and increase Chinese net exports.
c. increase U.S. and Chinese net exports.
d. decrease U.S. and Chinese net exports.
b
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Which of the following is correct?
a. Recessions have never occurred very close together. b. Sometimes recessions are close together. c. Economic fluctuations are easily predicted by competent economists. d. Spending, income, and production do not fluctuate closely with real GDP.
Exhibit 12-2 Lorenz curve
As shown in Exhibit 12-2, 60 percent of families earned a cumulative share of about ____ of income.
A. 5 percent B. 15 percent C. 30 percent D. 50 percent
According to the quantity theory of money and prices, a 10 percent increase in the money supply ultimately leads to
A. a 10 percent increase in wages. B. a 10 percent increase in real Gross Domestic Product (GDP). C. a 10 percent increase in the price level. D. a 10 percent decrease in velocity.
Which of the following is correct?
A. The asset demand for money is downsloping because the opportunity cost of holding money declines as the interest rate rises. B. The asset demand for money is downsloping because the opportunity cost of holding money increases as the interest rate rises. C. The transactions demand for money is downsloping because the opportunity cost of holding money varies inversely with the interest rate. D. The asset demand for money is downsloping because bond prices and the interest rate are directly related.