In recent years, which of the following has comprised less than 5% of GDP?
A) imports
B) exports
C) net exports
D) none of the above
C
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A financial intermediary that has existed throughout recorded history.
Answer the following statement(s) true (T) or false (F)
When the aggregate supply curve intersects the aggregate demand curve at a level of real GDP that exceeds potential GDP, is there an inflationary gap or a deflationary gap? What adjustments will take place?
What will be an ideal response?
Suppose China can produce either 300 telephones or 200 DVD players, and Japan can produce either 200 telephones or 100 DVD players. Implicitly, Japan has
A. Both an absolute and a comparative advantage in telephones. B. Neither a comparative nor an absolute advantage in telephones. C. A comparative but not necessarily an absolute advantage in telephones. D. An absolute but not necessarily a comparative advantage in telephones.
An appreciation of a nation's currency is
A. a situation in which exchange rates are allowed to fluctuate in the open market in response to changes in supply and demand. B. the decrease in the exchange value of one nation's currency in terms of another nation. C. a nation in which households, firms, and governments buy and sell national currencies. D. the increase in the exchange value of one nation's currency in terms of an other nation.