Because of global warming, countries that are cooler may see ________ in the supply of grain and agricultural products.
A. A reduction
B. A shift to the left
C. A shift to the right
D. No change
Answer: C
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If a country lends more to foreign countries than it borrows from foreign countries in a year, then definitely during that year
A) it has a current account deficit. B) it is a creditor nation. C) it is a debtor nation. D) it is a net lender.
A key reason that most people did not anticipate the severity of the recession of 2007-2009 is that
A) they thought the Fed would reduce the target for the federal funds rate to a lower level. B) they did not believe that the federal government would actually bail out large financial institutions. C) they failed to see the financial crisis coming. D) they were more worried about rising inflation than about falling real GDP.
Refer to Figure 4.3. All else equal, an increase in net exports accompanied by a decrease in expected future profits would cause which of the following shifts?
A) S1 to S2 and D1 to D2 B) S2 to S1 and D1 to D2 C) S1 to S2 and D2 to D1 D) S2 to S1 and D2 to D1
External costs are those costs:
A. that fall directly on an economic decision maker. B. that fall indirectly on an economic decision maker. C. that are imposed without compensation on someone other than the person who caused them. D. that are both social costs and private costs.