By definition, when the economy is in equilibrium it must be true that
A) leakages equal injections.
B) saving equals investment.
C) government spending equals taxes.
D) exports equal imports.
A
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What is the relationship between money growth and inflation across countries? Does your answer support the quantity theory of money?
What will be an ideal response?
Refer to Figure 9-1. Suppose the government allows imports of leather footwear into the United States. What will be the quantity demanded?
A) 5 units B) 10 units C) 15 units D) 20 units
Refer to Figure 9-2. The tariff revenue collected by the government equals the area
A) D + E + F. B) B + D + E + F. C) E. D) C + D + E + F.
Based on the present-aim standard a person who drinks gasoline and subsequently dies could be consider rational as long as:
A. her behavior helps other people. B. her death is not painful. C. she really likes the taste of gasoline and death. D. she thinks her behavior will result in more gasoline for other people.