Terms of trade refers to
A) the relative price at which trade occurs.
B) what goods are imported.
C) what goods are exported.
D) the volume of trade.
E) the tariffs applied to trade.
A
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The term "unemployment" is best described as the total number of
A) adults who are looking for work but have not found a job. B) people not working. C) adults who work fewer hours than they wish to work. D) people who have been laid off and have stopped looking for work.
What type of spending is the largest component of the GDP?
A) investment B) net exports C) government purchases D) consumption expenditures
In some markets for used goods:
A. the seller has more information than the buyer about the quality of the good. B. the buyer has more information than the seller about the quality of the good. C. low-quality used goods will be underpriced. D. the quality of used goods sold in the market will typically rise over time.
Explain the difference between active and passive policymaking.
What will be an ideal response?