Over the last twenty years in the U.S., the number of banks has:
A. steadily decreased.
B. stayed about the same.
C. more than doubled.
D. steadily increased.
Answer: A
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If the price of gasoline rose from $2.85 to $2.95 per gallon, your expenditure on gasoline would increase if your price elasticity of demand for gasoline equals
A) 1.25. B) 1.00. C) 0.75. D) Total revenue would increase at all of the above elasticities.
Tests, using Leontief's methodology, to explain trade patterns of other countries
A) show that the Leontief Paradox holds only for the United States. B) show that paradoxical results obtain for some countries but not for others. C) show that the Leontief paradox holds in every case. D) have never been performed.
If the government raises taxes ________
A) planned expenditures fall B) equilibrium output falls C) the IS curve shifts to the left D) all of the above E) none of the above
Net exports
a. will increase if exports of goods decline b. will increase if imports of goods rise c. are neither part of GDP nor national income d. are part of national income but not GDP e. are part of GDP and are derived by subtracting imports from exports