Net exports is a positive number when:
A. A nation;s exports of goods and services are increasing
B. A nation exports goods and services to other nations
C. A nation;s exports of goods and services exceed its imports
D. A nation;s exports of goods and services fall short of its imports
C. A nation;s exports of goods and services exceed its imports
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The Fed uses operating targets as well as intermediate targets because
A) the Federal Reserve Act of 1913 requires it to do so. B) the Fed controls intermediate targets only indirectly. C) the public is much more unfamiliar with the variables used as operating targets, so for policy to be effective intermediate targets must also be announced. D) if one set of targets proves ineffective in attaining policy goals, the other set is available.
Compared with a firm in a perfectly competitive market, the demand curve faced by a monopolistically competitive firm is
A) more elastic. B) more inelastic. C) perfectly elastic. D) perfectly inelastic.
When long-run average total cost decreases as output increases, a firm experiences
a. increasing average fixed cost b. decreasing total cost c. economies of scale d. diseconomies of scale e. constant returns to scale
If the actual interest rate is below the equilibrium interest rate, the
a. Fed must intervene in financial markets to restore the interest rate to its equilibrium value b. price of bonds will increase c. price of bonds will decrease d. money supply will increase until the interest rate rises e. money supply will decrease until the interest rate rises