If U.S. buyers purchased $500 billion of foreign goods and foreign buyers purchased $400 billion of U.S. goods, the U.S. balance of trade would be:
A. ?$100 billion.
B. $100 billion.
C. $400 billion.
D. -$500 billion.
Answer: A
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A) does; people have rational expectations B) does; people do not have rational expectations C) does not; people do not have rational expectations D) does not; people have rational expectations
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A. a sweater. B. bottled water. C. tap water. D. All of these goods are rival in consumption.
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Indicate whether the statement is true or false
A feature of a healthy macroeconomy is high inflation
a. True b. False Indicate whether the statement is true or false