When a country's import spending exceeds export spending, the country is experiencing a:
A) trade deficit.
B) trade surplus.
C) budget deficit.
D) none of the above.
A
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If the supply price of land is zero, including costs of transporting goods produced on the land to the market, then
a. positive rents are paid for the acres furthest from the market b. there are no rent-yielding acres c. the demand for land must be infinitely high d. population growth must be high e. landowners will reap higher rents
A reduction in the marginal tax-rate includes a substitution effect that tends to increase saving
a. True b. False Indicate whether the statement is true or false
Ronald Reagan’s presidency could be characterized as a period of
A. passive monetary policy. B. passive fiscal policy. C. active fiscal policy. D. active regulatory policy.
The optimal method of production maximizes cost for a given level of output.
Answer the following statement true (T) or false (F)