The term net exports refers to:
a. the situation in which a country's exports exceed its imports.
b. the situation in which a country's imports exceed its exports.
c. the shortages that result when a country imposes a price ceiling.
d. the shortages that result when a country imposes a price floor.
e. the difference between the value of exports and the value of imports.
e
Scenario 4-1
In a given year, country A exported $12 million worth of goods to country B and $6 million worth of goods to country C; country B exported $4 million worth of goods to country A and $7 million worth of goods to country C; and country C exported $5 million worth of goods to country A and $2 million worth of goods to country B.
You might also like to view...
The rate at which a person is willing to give up a gallon of gasoline to get one more pound of coffee and remain on the same indifference curve is called his or her
A) relative cost of coffee in terms of gasoline. B) indifference cost of coffee. C) personal price of coffee. D) marginal rate of substitution.
Let the production function be q = ALaKb. Returns to scale are equal to
A) a ? b. B) a + b. C) La + Kb. D) A ? L.
The consensus view
A. Incorporates only the monetarist perspective. B. Incorporates only the Keynesian perspective. C. Incorporates both the Keynesian and monetarist perspective. D. Ignores both the Keynesian and monetarist perspective.
Diseconomies of scale are reflected in
A. The upward-sloping segment of the long-run average total cost curve. B. A downward shift of the long-run average total cost curve. C. The downward-sloping segment of the long-run average total cost curve. D. The downward-sloping segment of the long-run marginal cost curve.