In an economy, the value of inventories was $75 billion in 2009 and $63 billion in 2010. In calculating total investment for 2010, national income accountants would:
A. Decrease it by $75 billion
B. Increase it by $63 billion
C. Decrease it by $12 billion
D. Increase it by $138 billion
C. Decrease it by $12 billion
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If a tariff is imposed on imports of shrimp into the United States, U.S. consumer surplus from shrimp will ________ and U.S. producer surplus from shrimp will ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease E) increase; not change
The right to openly support and to elect leaders in a democratic way is known as
A) political freedom. B) economic freedom. C) constitutional freedom. D) external freedom.
Markets may fail to allocate resources efficiently when property rights are not well established
a. True b. False Indicate whether the statement is true or false
The fact that U.S. currency is legal tender means:
A. it cannot be backed by gold or other metals. B. U.S. currency is good anywhere in the world. C. private businesses in the U.S. and the U.S. government must accept currency for payment. D. the only money the government will accept for settlement of debts is U.S. currency.