If a country's exports are worth $5 billion and its imports are worth $3.9 billion, the country experiences a ________
A) trade surplus B) budget deficit C) trade deficit D) budget surplus
A
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Graphically an increase in the short-run aggregate supply line represents a(n) ________, and a shift leftward of the long-run aggregate supply line represents a(n) ________.
A. adverse inflation shock; shock to potential output B. favorable inflation shock; shock to potential output C. shock to potential output; favorable inflation shock D. shock to potential output; adverse inflation shock
By definition, disposable income is equal to
A) consumption minus saving. B) consumption plus saving. C) consumption plus investment. D) investment plus saving.
One Sunday afternoon, your mother tells you and your brother that you can quickly make some money by helping her wash dishes. Both of you decide to help her. Once both of you are done with the work, your mother gives you a $20 bill
She also says that you can divide the money between yourself and your brother in any proportion you want, but if your brother does not accept the amount he is being given, she will take all of the money back. a) How much money should you offer your brother if he prefers more money to less? b) How much money should you offer to your brother if you know that your brother prefers fairness to money?
A mandatory seatbelt law ends up raising the number of traffic fatalities if it lowers fatalities per accident from 0.10 to 0.07 while raising the number of accidents per period from 35,000 to any more than
A) 35,000. B) 38,500. C) 37,450. D) 50,000.