If U.S. exports are $2.2 billion and our imports are $2.7 billion
A) the United States is lending to the rest of the world.
B) U.S. national saving is too high.
C) the United States is borrowing from the rest of the world.
D) U.S. investment must decrease.
C
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Discounted tickets for children into events is what type of price discrimination?
A. First-degree price discrimination. B. Second-degree price discrimination. C. Third-degree price discrimination. D. It is not price discrimination.
Recall the Application. As the world price of wool decreased, the quantity of wool supplied by individual ranchers would ________, and the quantity supplied in the whole market would ________
A) decrease; increase B) increase; decrease C) increase; increase D) decrease; decrease
To avoid double counting in the calculation of GDP, which types of goods are typically excluded from the calculation?
A) intermediate goods B) capital goods C) inventory goods D) nonmarket goods E) value-added goods
Price elasticity of demand is a numerical measure of how much quantity demanded rises as price falls or quantity demanded falls as price rises
a. True b. False Indicate whether the statement is true or false