The income-expenditure identity for a closed economy is:
A. Y = C + I + G.
B. Im ? Ex = C + I.
C. Y = C + I + G + NX.
D. Y + G = C + I ? NX.
A. Y = C + I + G.
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Because producers do not bear the external cost of pollution,
A) private production exceeds the economically efficient level. B) the economically efficient level of production is achieved. C) private production is below the economically efficient level. D) the market price for the product being produced by the pollution-generating company is too high.
On average, the greater the unexpected decline in aggregate demand
A) the weaker is the resulting deflation. B) the greater is the resulting deflation. C) the greater is the resulting inflation. D) the greater is the rise in the price level.
A country's balance of payments summarizes all economic transactions during a given period between residents of that country and residents of other countries
a. True b. False
The WTO encourages nations to take unilateral action on trade issues, including issues involving environmental protection
Indicate whether the statement is true or false