U.S. imports are:
A. U.S. goods sold to foreigners.
B. Foreign goods bought by Americans.
C. U.S. goods sold to Americans.
D. Foreign and U.S. goods sold to foreigners, but consumed in the U.S.
B. Foreign goods bought by Americans.
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________ refers to the overall political and financial situation of a country, and the extent to which these conditions may affect the ability of a country to repay its debts
A) Debt-rescheduling B) IMF conditionality C) Country risk D) International debt
Policy independence for the Federal Reserve is logically similar to allowing the ________
A) National Oceanographic and Atmospheric Administration to select the nation's weather B) Congressional Budget Office to estimate the government's expenditures C) individual states to set highway speed limits D) Social Security Administration to determine benefit levels and eligibility requirements
The host at a party offers Justin a sixth beer. Justin says, "No thanks, man. The marginal utility of that fifth beer was, like, 20 cents, but the marginal utility of the sixth would be minus 10 cents." From his comments, we deduce that Justin
a. is an alcoholic. b. may think that a sixth beer would make him sick. c. is irrational. d. wrongly estimates the marginal utility of the fifth beer.
The upward slope of the short-run aggregate supply curve is based on the assumption that:
A. Wages and other resource prices do not respond to price level changes B. Wages and other resource prices do respond to price level changes C. Prices of output do not respond to price level changes D. Prices of inputs flexible while prices of outputs are fixed