Suppose a country had net exports of $7.5 billion and sold $44.6 billion of goods and services abroad. This country had
a. $44.6 billion of imports and $52.1 billion of exports.
b. $52.1 billion of exports and $44.6 billion of imports.
c. $44.6 billion of imports and $37.1 billion of exports.
d. $44.6 billion of exports and $37.1 billion of imports.
D
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In the figure above, point E could be obtained if
A) resources were shifted from education to health care. B) resources were used more efficiently. C) society's resources increased. D) resources were shifted from health care to education.
Under the current structure of Medicare, the movement of the baby boom generation into the retirement phase of life will
a. reduce the overall demand for medical services because the elderly will not have to pay for hospitalization in the future. b. place downward pressure on healthcare prices. c. cause Medicare expenditures to increase and necessitate the need for higher taxes to finance the program. d. do all of the above.
Which of the following types of goods is subject to the free-rider problem?
A) a private good B) a public good C) a product that creates a positive externality D) a product that creates a negative externality
Which of the following would decrease the current account balance of the United States?
A) a decrease in the amount of money the U.S. government sends in foreign aid to other countries B) a decrease in imports C) a decrease in the amount of income U.S. companies pay out to foreigners who own investments in the U.S. D) a decrease in the balance of trade