Since the mid-1970s our merchandise balance of trade has been ________ and our services balance of trade has been _______.
Fill in the blank(s) with the appropriate word(s).
negative; positive
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In the United States, the use of CFCs in most aerosol sprays was banned in
a. 1987 c. 2005 b. 1978 d. 1970
When the price of tortilla chips rose by 10 percent, the quantity of tortilla chips sold fell 4 percent. This indicates that the demand for tortilla chips is
A) inelastic. B) perfectly inelastic. C) elastic. D) unit elastic.
One advantage of a negative income tax is _____
a. it minimizes the deadweight loss from taxation b. leisure becomes an inferior good c. it is identical to an in-kind payment in terms of utility d. it is easy to administer
Which of the following is counted as part of M2?
a. Currency b. All of the answers are correct. c. Money market funds d. Checkable deposits at commercial banks