A trade surplus occurs when:
A. exports are less than imports.
B. exports exceed imports.
C. government spending exceeds government revenue.
D. government revenue exceeds government spending.
Answer: B
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An increase in the marginal tax rate
A) decreases the expenditure multiplier but cannot make it negative. B) has no effect on the expenditure multiplier. C) can either increase or decrease the expenditure multiplier. D) increases the expenditure multiplier. E) decreases the expenditure multiplier and can make it negative.
A compensating wage differential is a wage difference attributable to the difference in the marginal productivity of workers
a. True b. False Indicate whether the statement is true or false
From an economic perspective, when a student decides to go to the movies instead of studying for a test, it indicates that in the student's thinking the marginal:
A. Benefit of studying is greater than the marginal cost of studying
B. Cost of going to the movies is less than the marginal benefit of going to the movies
C. Benefit of studying are greater than the marginal benefit of going to the movies
D. Cost of going to the movies is greater than the marginal cost of studying
Refer to the information provided in Figure 32.2 below to answer the question(s) that follow.
Figure 32.2Refer to Figure 32.2. According to ________, a(n) ________ monetary policy in the short run and after all the adjustments have been made increases equilibrium output above Y1.
A. Keynes; expansionary B. Keynes; contractionary C. the new classicals; contractionary D. the new classicals; expansionary