In the long run, imports will most likely be paid for with
A) exports.
B) the sale of real and financial assets.
C) the extension of credit.
D) higher domestic unemployment.
A
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The imposition of a quota ________ domestic production, ________ imports, and ________ domestic purchases
A) decreases; increases; decreases B) increases; decreases; increases C) increases; decreases; decreases D) decreases; decreases; decreases E) increases; increases; increases
Nominal GDP is $12.1 trillion and real GDP is $11.0 trillion. The GDP price index is
A) 90.1. B) 121. C) 1.10. D) 91.0. E) 110.
Suppose real GDP is $12.6 trillion and potential GDP is $12.4 trillion. To move the economy back to potential GDP, Congress should
A) raise taxes by $200 billion. B) lower government purchases by an amount less than $200 billion. C) lower government purchases by $200 billion. D) raise taxes by an amount more than $200 billion. E) lower taxes by $200 billion.
An unexpected fall in car sales should send bond prices __________ and stock prices __________
A) up; up B) up; down C) down; up D) down; down