The trade of an economy is said to be balanced if:
a. the monetary value of exports is greater than the monetary value of imports.
b. the monetary value of exports is equal to the monetary value of imports
c. the physical volume of exports is equal to the physical volume of imports.
d. the physical volume of exports is greater than the physical volume of imports.
b
You might also like to view...
Quantity supplied increases when the price of a good increases because
A. producers find it more profitable to make the item. B. potential buyers “drop out” of the market, so the good becomes more abundant. C. as demand decreases with a high price, surpluses appear. D. All of these responses are correct.
Referring to the Economic Stimulus Act of 2008, the expansionary effect of the government stimulus was overwhelmed by the continuing deterioration in credit market conditions
Everything else held constant and using the ISLM model, the net effect would cause the ________ curve to ________ and output will ________. A) IS; shift left; decrease B) IS; shift right; increase C) LM; shift right; increase D) LM shift left; decrease
A monopoly is a
a. price taker b. single buyer of an input into production c. firm facing a perfectly elastic demand curve d. group of firms controlling the price and output for an industry e. price setter
The long-run aggregate supply curve shifts left if
a. the capital stock increases. b. there is a natural disaster. c. the government removes some environmental regulations that limit production methods. d. None of the above is correct.