"Net exports" is defined as
A) GDP minus imports.
B) exports plus imports.
C) GDP minus exports.
D) exports minus imports.
D
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Data presented in the text compare exports per capita in the early 1790s with exports per capita just prior to the Revolution. The data show that by the early 1790s, exports per capita had increased in _____________, but had decreased in ___________________
a. the Upper South; the Lower South b. the Upper South; New England c. New England; the Middle Atlantic states d. the Middle Atlantic states; the Upper and Lower South
A price cut will decrease the total revenue a firm receives if the demand for its product is: a. elastic
b. inelastic. c. unit elastic. d. unit inelastic.
Which of the following will shift the aggregate demand curve outward?
a. tax cuts and government spending cuts b. tax increases and government spending increases c. tax cuts and government spending increases d. tax increases and government spending increases
At any given moment there is one exchange rate
a. for currencies in the free world. b. between every pair of currencies. c. for all the world's currencies. d. established by the Federal Reserve Board.