________: the monetary amount by which a nation's merchandise imports exceed imports during a given time period, usually one year
Fill in the blank(s) with correct word
Trade deficit
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Earnings of a resource is termed as economic rent if:
a. it has a perfectly elastic demand. b. it has a perfectly elastic supply. c. it has a perfectly inelastic supply. d. it has a perfectly inelastic demand. e. it has no demand.
Suppose a tax cut affected aggregate demand and aggregate supply. The shift in aggregate supply would make the
a. price level and real GDP change by more than otherwise. b. price level change by more than otherwise and real GDP change by less than otherwise. c. price level change by less than otherwise and real GDP change by more than otherwise. d. price level and real GDP change by more than otherwise.
If Producer A and Producer B are the only producers in the market, then the market quantity supplied when the price is $4 is
The income distribution of the United States is basically the nation's answer to the
A. WHAT question. B. HOW question. C. WHAT, HOW, and FOR WHOM questions. D. FOR WHOM question.