Exports minus imports define a country's
A. Trade balance.
B. Balance of payments.
C. Capital account balance.
D. Current account balance.
Answer: A
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The shorter is the interval between firms' price adjustments,
A) a given unexpected increase in aggregate demand will cause a larger increase in output. B) the greater is the scope for activist policies to stabilize the economy. C) the smaller is the scope for activist policies to stabilize the economy. D) a given unexpected increase in aggregate demand will cause a smaller increase in the price level in the short run.
A large government faces a production possibilities frontier much like a business firm does
a. True b. False Indicate whether the statement is true or false
A document demonstrating ownership interest in a company is called a
a. contract b. bond c. stock d. lien e. none of these
The process of developing hypotheses, testing them against facts, and using the results to construct theories is called:
A. opportunity cost calculation. B. microeconomics. C. marginal analysis. D. the scientific method.