The United States is the largest national economy in the world
a. True
b. False
Indicate whether the statement is true or false
True
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If a country imposes a tariff on all imports, then you would expect to see:
a. an increase in this country's current account surplus. d. an increase in this country's foreign lending. c. in increase in this country's exchange rate. d. a and b. e. all of the above.
A special interest will be able to influence a legislature's actions _____
a. only if there are not special interests on the other side of the issue b. if enough members of the legislature are corrupt c. up to the point where the marginal political support they provide equals the marginal political opposition of other special interests d. as long as the marginal political support they provide to the legislature is positive
In an open economy under flexible exchange rates, a reduction in the interest rate will cause a reduction in which of the following?
A) investment B) the exchange rate, E C) net exports D) all of the above E) none of the above
Economists use the term shocks to mean
A) unexpected government actions that affect the economy. B) typically unpredictable forces that have major impacts on the economy. C) sudden rises in oil prices. D) the business cycle.