When the price level in the United States falls relative to the price level of other countries, ________ will fall, ________ will rise, and ________ will rise
A) imports; exports; net exports
B) exports; imports; net exports
C) net exports; exports; imports
D) net exports; imports; exports
Answer: A
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The big tradeoff is a tradeoff between
A) efficiency and fairness. B) consumer surplus and producer surplus. C) taxes and subsidies. D) price ceilings and price floors.
Monetarists consider timing variations in the relationship between money supply changes and income changes to be
A) a fundamental problem of counter-cyclical monetary policy. B) inconsequential relative to the problem of instability in the velocity of money. C) a fundamental long-run problem but not a significant problem in the short run. D) offset by predictable changes in the money multiplier.
In large companies it is often the case that
A) bureaucracy compliments performance. B) profits increase with market share. C) bureaucracy overwhelms performance. D) revenues increase faster than costs.
Bill says: "The imposition of a tax on tequila will increase its price." Bob says: "Taxes should be imposed on tequila because college students drink too much." a. Both statements are normative
b. Both statements are positive. c. Bill's statement is normative, and Bob's statement is positive. d. Bill's statement is positive, and Bob's statement is normative.