An increase in ________ in an open economy of any size leads to ________
A) desired saving; an increase in net capital outflows
B) desired investment; a decrease in net capital outflows
C) desired saving; an increase in the trade balance
D) all of the above
E) none of the above
D
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According to the World Bank, in 2006, China's GDP was approximately $2.7 trillion (or $2,700 billion). That same year, India's GDP was approximately $906.3 billion
With which of the following populations would China's standard of living have been considered higher than India's that year? A) China's population = 1.3 billion; India's population = 1.1 billion B) China's population = 8.3 billion; India's population = 1.1 billion C) China's population = 3.5 billion; India's population = 1.1 billion D) China's population = 500 million; India's population = 125 million
The use of money as a medium of exchange requires a double coincidence of want
a. True b. False Indicate whether the statement is true or false
By reviewing its sales records, Dell economists discover that when Dell lowers the price of its personal computers, the total revenue Dell obtains from the sale of its personal computers rises. Hence
A) supply of Dell personal computers is elastic. B) demand for Dell personal computers is elastic. C) supply of Dell personal computers is inelastic. D) demand for Dell personal computers is inelastic.
Consumption spending refers to ________ spending on goods and services
A) government B) business C) foreign D) household