The difference between a nation’s value of its exports and imports is called the balance of _________.
a. trade
b. payments
c. goods
d. shipments
a. trade
You might also like to view...
You have an hour between your economics and math classes. What is the opportunity cost of that time if you use it to complete your math homework instead of your economics homework?
A) the economics homework you could have completed B) the cost of your calculator and math textbook C) the math homework you chose to complete D) zero, because it doesn't cost any money to do your math homework
Imposing tariffs in cases of dumping
A) is allowed under the WTO agreement. B) is not allowed under the WTO agreement. C) has never occurred, even though it is allowed under the WTO agreement. D) is not addressed by the WTO agreement.
The two cornerstones of Classical economics are the Quantity Theory and
A) Liquidity Preference Theory. B) disequilibrium analysis. C) Say's Law. D) the Phillips Curve.
If an increase in investment of $50 causes an increase in real GDP of $250, the value of the spending multiplier is:
a. 5. b. .20. c. .80. d. 3. e. 10.