Resources are exchanged in ________ markets.
A. factor
B. product
C. exchange rate
D. stock
Answer: A
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The balance of trade is the value of a nation's ____________
a. goods and service exports times goods and service imports b. goods exports subtracted from goods imports c. goods imports subtracted from goods exports d. net goods imports plus net capital inflows
Marginal utility is defined as
A) the increase in utility divided by the total number of units consumed. B) the total utility divided by the total number of units consumed. C) the change in total utility divided by the change in number of units consumed. D) the number of units consumed divided by the total utility.
Goods that are produced in other countries and then sold domestically are called
A. quotas. B. exports. C. tariffs. D. imports.
The real-business-cycle theory holds that business fluctuations are caused by:
A. factors affecting aggregate demand. B. incorrectly anticipated government stabilization policies. C. significant changes in technology and resource availability. D. "stop-and-go" monetary policies.