Whenever exports equal imports (and other planned injections equal other planned leakages), the economy
a. remains stable.
b. expands.
c. contracts.
d. inflates.
a. remains stable.
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Economic activity moves from a trough into a period of ________ until it reaches a ________ and then into a period of ________.
A. recession; peak; expansion B. recession; trough; expansion C. expansion; trough; recession. D. expansion; peak; recession
The production possibilities frontier is the boundary between
A) those combinations of goods and services that can be produced and those that can be consumed. B) those resources that are limited and those that are unlimited. C) those combinations of goods and services that can be produced and those that cannot. D) those wants that are limited and those that are unlimited.
Brett buys a new cell phone for $100. He receives consumer surplus of $80 from the purchase. How much does Brett value his cell phone?
A) $180 B) $100 C) $80 D) $20
What is (are) the key characteristic(s) of the agrarian system in Sub-Saharan Africa?
What will be an ideal response?