A large open economy has desired national saving of Sd = 1200 + 1000rw, and desired national investment of Id = 1000 - 500rw. The foreign economy has desired national saving of 
= 1300 + 1000rw, and desired national investment of 
= 1800 - 500rw. In equilibrium, the foreign country has net exports equal to
A. 500.
B. 350.
C. -500.
D. -350.
Answer: D
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A. smog B. PCBs C. ozone D. “greenhouse gases”
Which of the following is a source of government failure?
A) The lack of bureaucracy in government. B) The invisible hand. C) The enormous size and scope of government. D) Excessive flexibility.
In the expectations-augmented Phillips curve, ? = ?e - 3(u - 
). If ? = 0.03 when ?e = 0.06 and u = 0.06, then 
=
A. 0.02. B. 0.03. C. 0.04. D. 0.05.
An increase in the number of suppliers in a market results in a
A) movement up along the supply curve. B) rightward shift in the supply curve. C) leftward shift in the supply curve. D) Both answers A and C are correct.