Net exports of a country are the value of
a. goods and services imported minus the value of goods and services exported.
b. goods and services exported minus the value of goods and services imported.
c. goods exported minus the value of goods imported.
d. goods imported minus the value of goods exported.
b
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If the price of x falls, the budget constraint:
a. shifts outward in a parallel fashion. b. shifts inward in a parallel fashion. c. rotates outward about the x-intercept. d. rotates outward about the y-intercept.
If the economy is in a recession, the Fed is likely to:
A. buy bonds through open market operations. B. increase the discount rate. C. increase the reserve requirement. D. print more currency.
Which of the following do unions not cause?
a. frictional unemployment b. the wage to rise above the equilibrium level c. conflict between insiders who benefit from high union wages and outsiders who do not get the union jobs d. reduced wages in industries without unions
The 1997 Kyoto Protocol was signed by
A) only the United States and the European Union. B) only nations in Asia. C) more than three dozen nations. D) all nations in the world.