In an open economy, net exports will be equal to which of the following?
A) X - IM/?
B) T - G
C) DD
D) Z
E) S - I
A
You might also like to view...
The smaller the marginal propensity to consume, the
A) flatter the IS curve will be. B) steeper the IS curve will be. C) flatter the LM curve will be. D) steeper the LM curve will be.
Assume that in Canada the opportunity cost of producing one television set is two bushels of wheat. Assume that in the United States the opportunity cost of producing one bushel of wheat is two television sets. If these two countries specialize according to comparative advantage and then trade with each other:
A. the United States will export both televisions and wheat. B. Canada will export both televisions and wheat. C. Canada will export wheat and import televisions. D. the United States will export wheat and import televisions.
A right-to-work law makes it illegal
A) to prevent union members from working in any firm. B) to fire a worker who has joined a union or who tries to organize a union at any firm. C) to inquire whether a prospective employee is a member of a union or not. D) for union membership to be a requirement for continued employment in any firm.
Which of the following is not a condition of monopolistic competition?
a. firms produce a similar product b. products are differentiated c. advertising may exist d. each firm charges the same price for its output