Using the data in the above table, if net exports = -$500 billion and the government balances its budget, then
A) the private sector must balance its budget.
B) savings must equal $150 billion.
C) the private sector runs a surplus of $850 billion.
D) saving must equal $650 billion.
B
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The demand curve for a perfectly competitive firm is ________, while the demand curve for a monopolist is ________.
A. perfectly inelastic; perfectly elastic B. perfectly elastic; downward-sloping C. vertical; downward-sloping D. perfectly elastic; perfectly inelastic
After the passage of the North American Free Trade Agreement, which made it less expensive to import goods from Mexico, workers in some industries found their factories being relocated to Mexico to take advantage of lower labor costs
These workers experienced what type of unemployment? A) cyclical B) trade C) foreign D) structural E) frictional
Which of the following changes in taxes would lead to the greatest increase in consumption?
a. a $20,000 decrease in taxes, if MPC equals 0.5 b. a $12,000 decrease in taxes, if MPC equals 0.75 c. a $15,000 decrease in taxes, if MPC equals 0.6 d. a $30,000 decrease in taxes, if MPC equals 0.25
Noise from a hard rock concert is an example of a situation in which
A) social costs are greater than private costs. B) social costs are less than private costs. C) social costs are equal to private costs. D) social costs that are not external costs.