When an Egyptian firm purchases a cement mixer from Slovakia,
a. Egyptian investment does not change, Egyptian net exports decrease, Egyptian GDP decreases, Slovakian net exports increase, and Slovakian GDP increases.
b. Egyptian investment increases, Egyptian net exports decrease, Egyptian GDP is unaffected, Slovakian net exports increase, and Slovakian GDP increases.
c. Egyptian investment decreases, Egyptian net exports increase, Egyptian GDP is unaffected, Slovakian net exports decrease, and Slovakian GDP decreases.
d. Egyptian investment increases, Egyptian net exports do not change, Egyptian GDP increases, Slovakian net exports do not change, and Slovakian GDP is unaffected.
b
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Answer the following statement(s) true (T) or false (F)
1. The travel cost method estimates benefits based on the substitutability of a natural resource and its recreational value. 2. A disadvantage of the travel cost method is that it estimates only existence value and not user value. 3. In modeling the travel cost method, the estimated benefit of improving the environmental quality of a natural resource is captured by the change in consumer surplus associated with a decrease in demand for that resource 4. The hedonic price method is based upon the premise that goods and services are valued for their individual attributes. 5. Among the advantages of the hedonic price method is that data on a product’s characteristics are readily available.
An article about how coffee boosts critical thinking is likely to affect which determinant of demand?
A. Incomes B. Preferences C. Number of sellers in the market D. Price
For a normal good, the substitution and income effects of a price decrease work in the same direction to increase the quantity demanded of that good
a. True b. False
Which of the following statements is correct?
A) Average variable costs always exceed average total costs. B) Average fixed costs are constant. C) Average variable cost reaches its minimum when average product equals its maximum. D) Average fixed costs are always less than average variable costs.