Which of the following is true when a county is experiencing a trade deficit (NX < 0)?
A) Demand for domestic goods is equal to the domestic demand for goods.
B) Demand for domestic goods is greater than the domestic demand for goods.
C) Demand for domestic goods is less than the domestic demand for goods.
D) A budget deficit exists.
C
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The exploitation of what resource supplied more than half of the increase in mechanical energy in 1860–1910?
(a) Petroleum (b) Water power (c) Anthracite coal (d) Bituminous coal
Society's core economic problem is
a. the role of government in the economy b. a scarcity of land, labor, and machinery to produce goods and services c. the federal budget deficit d. an unequal distribution of income e. low living standards
The market demand curve for a monopolist is typically
a. unit price elastic. b. downward sloping. c. horizontal. d. vertical.
Students who major in computer science are paid a lot more when they graduate than those who major in philosophy because
A. The derived demand for computer science majors is less than the derived demand for philosophy majors. B. The marginal revenue product for computer science majors is less than the marginal revenue product for philosophy majors. C. Information technology is a growth industry. D. The search for the meaning of life is a growth industry.