The balance of trade includes trade in
A) goods only. B) both goods and services.
C) services only. D) neither goods nor services.
A
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The table above gives the production and prices for a small nation that produces only bread and soda. The base year is 2010. What is real GDP in 2010?
A) $530 B) $1080 C) $510 D) $210 E) $300
In an inflationary environment, then over time
A) a specific tariff will tend to raise more revenue than an ad valorem tariff. B) an ad valorem tariff will tend to raise more revenue than a specific tariff. C) an optimum tariff will tend to raise more revenue than an escalating tariff. D) a tariff quota will tend to raise more revenue than a specific tariff. E) an import quota would raise more revenue than a specific tariff.
A consumer values a car at $30,00 . and a producer values the same car at $20,000 . If the transaction is completed at $24,000 . the transaction will generate:
a. No surplus b. $4,00 . worth of seller surplus and unknown amount of buyer surplus c. $6,00 . worth of buyer surplus and $4,00 . of seller surplus d. $6,00 . worth of buyer surplus and unknown amount of seller surplus
Portfolio investment can generally travel across borders _________ foreign direct investment can.
A. not as quickly as B. just as quickly as C. more quickly than D. None of these statements is true.