Refer to the graph below.
Which of the shifts explains what would happen to the production possibility curve if a cyclone destroys five major garment factories in the Philippines?
A. I
B. II
C. III
D. IV
Answer: A
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A federal budget deficit is financed by the
A. private sector's investment spending. B. government purchase of Treasury securities. C. government issuance or sale of Treasury securities. D. nation's exports.
The real balances effect is caused by an inverse relationship between the price level and the real value of financial assets with fixed nominal value
a. True b. False Indicate whether the statement is true or false
In the long run, a year-long drought that destroys most of the summer's wheat crops causes permanently:
A. higher prices. B. lower prices. C. lower output. D. None of these is true.
Recall the Application about rising oil prices and their effect on the U.S. economy to answer the following question(s).What does "the U.S. is a net exporter of petroleum products" mean? How can we be a net exporter when we still import oil from other countries?
What will be an ideal response?