Net exports are
a. total exports minus total imports
b. what foreigners earn in the United States minus what US citizens earn abroad
c. always positive because the United States has always had a positive trade balance.
d. total imports minus total exports
e. total exports minus depreciation
A
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A recession begins with a(n) ________ in spending by firms on capital goods and a(n) ________ in spending on durable goods by households
A) decrease; increase B) increase; increase C) decrease; decrease D) increase; decrease
The Civil War's (1861–1865) impact on the growth and development of the U.S. economy was negative
Indicate whether the statement is true or false
Albert's Pretzel Baking Company used to have four workers who were each in charge of making their own pretzels from start to finish
Now, one worker mixes the dough, another shapes it, the third puts the unbaked pretzels into the oven and the fourth removes the finished product. Output has doubled. This is an example of A) neutral technical change. B) labor-saving technical change. C) an organizational innovation. D) economies of scale.
If aggregate expenditures are less than real GDP, then:
a. both inventories and real GDP will decline. b. inventories will decline but real GDP will increase. c. inventories will increase and real GDP will decline. d. both inventories and real GDP will increase. e. inventories will increase but real GDP will remain unchanged.