If a country had a trade deficit of $20 billion and then its exports rose by $7 billion and its imports fell by $10 billion, its net exports would now be
a. $37 billion
b. $3 billion
c. -$3 billion
d. -$37 billion
c
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________ are non-rival in consumption
A) Public goods and private goods B) Public goods and club goods C) Public goods and common pool resources D) Private goods and common pool resources
The income elasticity of demand is a measure of the responsiveness of the
A) quantity of a good demanded to changes in income. B) consumer's income to a change in the price of the goods he or she consumes. C) quantity of a good demanded to changes in its price. D) quantity of a good demanded to changes in another good's price.
The larger the fraction of an investment financed by borrowing,
A) the smaller the potential return and potential loss on that investment. B) the greater the potential return and the smaller the potential loss on that investment. C) the smaller the potential return and the greater the potential loss on that investment. D) the greater the potential return and potential loss on that investment.
In general, the less elastic the resource supply, the less the economic rent as a proportion of total earnings
Indicate whether the statement is true or false