Using the data in the above table, suppose imports equal $250 billion and investment equals $1,000 billion. Hence government expenditure equals
A) $1,000 billion.
B) $750 billion.
C) $500 billion.
D) $250 billion.
C
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Henry Bessemer is most recognized for
a. the invention of air brakes for trains. b. his role as an early union leader. c. invention of a steel manufacturing process. d. the development of refrigerated train cars.
Which of the following is not a basic monetary policy tool used by the Fed?
A. The discount rate. B. Reserve requirements. C. Open-market operations. D. The income tax rate.
Country X imports rice from the world market. Which of the following policy instruments, if adopted by its government, may result in a switch from rice being imported to being exported?
A. Division of land holdings B. An agricultural price support that includes the government selling any excess production to foreign buyers C. Taxing imports of agricultural inputs D. An agricultural price ceiling that creates domestic excess demand
Why are universal standards for minimum wages and hours worked difficult to agree on?
What will be an ideal response?