From 1991-2000 . U.S. net capital outflow as a percent of GDP became a
a. larger positive number.
b. smaller positive number.
c. larger negative number.
d. smaller negative number.
c
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According to the Taylor rule, if the inflation rate in the last year was 2% and output was equal to its full-employment level, the nominal Fed funds rate should be
A) 3%. B) 4%. C) 5%. D) 6%.
In the three months before a $1 per pack cigarette tax took effect in Alaska, smokers bought 175 million more cigarettes than during the same period a year earlier. What explains this behavior by consumers?
The principal reason that monetary policy has lags is that it takes a long time for
a. changes in the interest rate to change aggregate demand. b. changes in the money supply to change interest rates. c. the Fed to make changes in policy. d. Congress and the President to approve Fed policy.
A firm will continue to produce in the short run even though economic profits are negative as long as
A) the amount of the loss is no greater than the amount of fixed cost. B) MC = MR. C) it earned positive economic profits last year. D) it has fixed obligations to pay.