In 2012, the United States:
A. imported more services than it exported.
B. imported more goods than it exported.
C. traded mainly with developing nations such as Mexico and India.
D. had a small trade surplus in goods and services.
B. imported more goods than it exported.
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A restrictive monetary policy is designed to shift the aggregate ________.
A. demand curve to the left B. supply curve to the right C. demand curve to the right D. supply curve to the left
In the classical theory of growth, what is the final outcome of an increase in growth and labor productivity?
What will be an ideal response?
In general, the costs tariffs and quotas impose on consumers are
A) large in total and large per person. B) small in total but relatively large per person. C) large in total but relatively small per person. D) small in total and small per person.
In the short run, macroeconomic analysis focuses on ________, while in the long run, the focus is on ________
A) fiscal policy; monetary policy B) short-run economic growth; population demographics C) unemployment; inflation D) the business cycle; long-run economic growth