Suppose that a country imports $5.7 billion of goods and services and exports $4.2 billion of goods and services. What is the value of net exports?
A. -$1.5 billion
B. $9.9 billion
C. -$9.9 billion
D. $1.5 billion
Answer: A
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Answer the following statement(s) true (T) or false (F)
1. The underlying assumptions of the Coase Theorem are that transactions are costless and that damages are accessible and can be measured. 2. The study conducted by Greenpeace China of the Pearl River Delta (PRD) region indicates that progress is being made to improve water quality. 3. If property rights are held by the producer of an externality-generating good, then bargaining will continue as long as MEC>?>M?, where ? represents the payment offered to the producer not to pollute. 4. If recreational users of a natural resource hold the property rights to that resource, their bargaining stance with the producer of an externality-generating good who wants to use that resource is that they will accept a payment ? as long as ?< (MSC – MSB). 5. If property rights for resources are shared, those resources are called common property resources.
Historically the return on stocks has been higher than the return on bonds. In part this reflects the higher risk from holding stock
a. True b. False Indicate whether the statement is true or false
What is the difference between approximate and exact consumer surplus?
A. Approximate consumer surplus is calculated using an uncompensated demand curve, while exact consumer surplus is calculated using a compensated demand curve. B. Approximate consumer surplus is calculated using a compensated demand curve, while exact consumer surplus is calculated using an uncompensated demand curve. C. There is no difference between approximate and exact consumer surplus. D. Approximate consumer surplus can be measured, while exact consumer surplus cannot be measured.
In the above figure, suppose the economy is initially on the demand for money curve MD1. What is the effect of a rise in the nominal interest rate?
A) The demand for money curve would shift rightward to MD2. B) The demand for money curve would shift leftward to MD0. C) There would be a movement upward along the demand for money curve MD1. D) There would be a movement downward along the demand for money curve MD1.