In goods market equilibrium in an open economy,
A. the desired amount of national saving must equal the desired amount of domestic investment plus the amount lent abroad.
B. the desired amount of exports must equal the desired amount of imports.
C. the desired amount of exports must equal the desired amount of imports less the amount lent abroad.
D. the desired amount of national saving must equal the desired amount of domestic investment.
Answer: A
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Between 2001 and 2015, equilibrium college tuition rose from $15,000 to $27,000 and equilibrium enrollment increased from 16 million to 21 million students. These changes could be the result of
A) an increase in demand. B) an increase in supply. C) a decrease in demand. D) a decrease in supply.
When long-run average costs decrease as output increases, there are
A) economies of scale. B) diseconomies of scale. C) constant returns to scale. D) constant marginal costs.
Holding other things constant, a decrease in the inflation rate in the US compared to the Canadian economy may cause the demand for dollar to _____________ and the supply for dollar to __________
a. Increase; decrease b. Increase, increase c. Decrease; Increase d. Decrease; Decrease
The coordination task of dividing products among consumers is a problem of
a. output selection. b. production planning. c. distribution. d. market segmentation.