If a country had a trade surplus of $100 billion and then its exports rose by $40 billion and its imports rose by $30 billion, its net exports would now be
a. $110 billion
b. $90 billion.
c. $70 billion.
d. $60 billion.
a
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The theory of consumer choice most closely examines which of the following Ten Principles of Economics?
a. People face trade-offs. b. Governments can sometimes improve market outcomes. c. Trade can make everyone better off. d. Markets are usually a good way to organize economic activity.
The real return on money is
A) 0. B) -r. C) -i. D) -R.
In Country X, the highest 10 percent of families account for 70 percent of the income. In Country Y, the highest 10 percent of families account for 20 percent of the income. In this example:
a. Country Y would be located on the line of perfect inequality. b. income is more equally distributed in Country Y. c. income is more equally distributed in Country X. d. Country X would be located on the line of perfect equality. e. the degree of income inequality is equal in both the countries.
If in some year nominal GDP was $20 billion and the GDP deflator was 50, what was real GDP?
a. $2.5 billion. b. $10 billion. c. $40 billion. d. $100 billion.