When a nation's exports are less than its imports, it has a
A. trade embargo.
B. trade shortage.
C. trade surplus.
D. balanced trade.
Answer: B
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If the required reserve ratio is .5, the deposit contraction multiplier is
A) .5. B) 2. C) 2.5. D) 5.
In the short run, a monopolistically competitive firm can earn
A) positive profits only. B) zero profits only. C) zero or positive profits only. D) zero, positive or negative profits.
Over the air television signals are ____________ ; television signals available through cable are
a. Public goods, public goods b. Public goods, common property resources c. Private goods, private goods d. Common property resource, private goods
The Federal Open Market Committee (FOMC) is composed of the seven members of the Board of Governors,
A) the president of the New York Federal Reserve District Bank, and four of the remaining 11 Federal Reserve District Bank presidents who rotate on an annual basis. B) and five state governors who rotate on an annual basis. C) four Federal Reserve District Bank presidents who rotate on an annual basis, and the head of the Senate Banking Committee. D) and the Secretary of the Treasury.