Our balance of trade in services is _______ and our balance of trade in goods is ______.
A. negative; negative
B. positive; positive
C. positive; negative
D. negative; positive
C. positive; negative
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Describe the difference between discretionary and automatic fiscal policy
What will be an ideal response?
Stabilization policy refers to attempts to
A) shift the AD curve to smooth short-run fluctuations in output. B) shift the SRAS curve to smooth short-run fluctuations in output. C) shift the AD curve to keep the price level as low as possible. D) shift the SRAS curve to keep the nominal interest rate as low as possible.
Which of the following is not included in M2?
A. All of the items in M1. B. All of the items in M2. C. Treasury bills. D. Time deposits greater than $100,000.
An economist's measurement of profit differs from an accountant's in that: a. accountants calculate total revenue differently than do economists
b. economists do not always include all of the opportunity costs when calculating total production costs. c. accountants do not always include all of the opportunity costs when calculating total production costs. d. economic profit generally exceeds accounting profit.