________ is the excess of imports over exports
A) Budget surplus B) Trade surplus C) Trade deficit D) Budget deficit
C
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If the Federal Reserve is currently paying 1% interest on bank reserves, but then reduces that interest rate to 0.5%, banks may decide to hold ________ reserves, and the money supply may ________.
A. fewer; decrease B. fewer; increase C. more; decrease D. more; increase
Suppose an oligopolistic firm raises the price of its output. Demand for the firm's output will be relatively price ________ if the other dominant firms in the market ________
A) elastic; do not raise price B) unit elastic; do not raise price C) inelastic; also raise price D) cannot be determined
Consider that in Country A, there are some models of cars available in the luxury segment produced by the domestic companies. Some more models are available in the same segment in Country B as well. Explain, with the help of suitable figures, how the consumers in both countries gain if they engage in free trade.
What will be an ideal response?
When comparing the distribution of wealth to the distribution of income, it can be noted that
A. the measurement of wealth is much less accurate than the measurement of income. B. the distributions are about the same. C. the measurement of income is much less accurate than the measurement of wealth. D. wealth does not generate income.