Use the data in the table below to answer the next question. The data describes a hypothetical economy and are denominated in billions of dollars.Personal consumption expenditures$4,500Consumption of fixed capital150Gross private domestic investment800Government purchases950Exports65Imports85What is the value of net exports in this economy?
A. ? $20 billion
B. ? $65 billion
C. $20 billion
D. $150 billion
Answer: A
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The federal goal of making land widely accessible, especially in the last half of the 19th century,
a. was largely realized without fraud or favoritism. b. was implemented despite a process that favored special interests. c. was often subverted by fraud. d. None of the above is correct. e. Only b and c are correct.
The price of an exhaustible resource sold in a perfectly competitive market in which technology and consumer preferences do not change over time will tend to
A. stay constant over time. B. always equal the price of the closest substitute for that resource. C. fall over time. D. rise over time.
Which of the following describes an individual’s labor supply curve when the desire for more wage-related income is stronger than the desire for more free time?
a. U-shaped b. backward bending c. upward sloping d. downward sloping
The PPF of a country will be skewed toward the good that:
A. uses its scarce factor intensively. B. uses its abundant factor intensively. C. uses its intensive factor abundantly. D. does not use its intensive factor abundantly.