Last year a country had exports of $50 billion, imports of $60 billion, and domestic investment of $40 billion. What was its saving last year?
a. $30 billion
b. $20 billion
c. $10 billion
d. -$10 billion
a
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The cross elasticity of demand between Coca-Cola and Pepsi-Cola is ________ so that Coke and Pepsi are ________
A) positive; complements B) positive; substitutes C) negative; normal goods D) negative; substitutes
The credibility theory of EMS had as an effect
A) the inflation rates of member countries converging to the low German levels, a result that was not matched by similar countries who did not fix their exchange rates. B) the inflation rates of member countries failing to converge to the low German levels. C) the inflation rates of member countries converging to the low German levels, but other countries including U.S. and Britain also reduced inflation in this time period without fixing exchange rates. D) the inflation rate in Germany rose to match the inflation rates of other member countries. E) the inflation rate in the U.S. dropped to the low German levels.
Which of the following people would be considered unemployed?
A. A young man who has recently received his Ph. B. A woman who has quit college to move to New York where she is looking for a modeling job C. A student who plans to look for a job after graduation D. A 55-year-old steel worker who was laid off 18 months ago and has given up trying to find a job E. but who is driving a taxi because of an inability to find a teaching job
A monopolistically competitive firm that earns an accounting profit in the short run
A) must also earn an economic profit in the short run. B) does not earn enough to earn an economic profit in the short run. C) could earn an economic profit, break even, or suffer an economic loss in the short run. D) could earn an economic profit or break even, but could not suffer an economic loss in the short run.