If Norway sold more goods and services abroad than it purchased from abroad, then it had
a. positive net exports which is a trade surplus.
b. positive net exports which is a trade deficit.
c. negative net exports which is a trade surplus.
d. negative net exports which is a trade deficit.
a
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Which of the following is true in a market economy?
a. Central planners determine answers to the basic economic questions. b. Resources are used efficiently. c. The distribution of wealth is equal. d. Information for production and distribution decisions pass directly to buyers from the government.
The vertical intercept of the consumption function equals ________ and the slope equals ________.
A. autonomous consumption; the mpc B. the mpc; autonomous consumption C. the planned component of consumption; the unplanned component of consumption D. the unplanned component of consumption; the planned component of consumption
An increase in the money supply will decrease both interest rates and exchange rates.
a. true b. false
In the first years of a professional athlete's career, the athlete is "under reserve," which means that he or she cannot negotiate with other teams. After a specified amount of time, the player can become a free agent. This implies that, everything else equal,
A) the player's salary is probably higher as a free agent than as a reserve player. B) the player's salary is probably lower as a free agent than as a reserve player. C) the player's salary is probably the same as a free agent and as a reserve player. D) the free agent status is not granted to every player.