If net exports decrease, the expenditure schedule will
A. get steeper.
B. get flatter.
C. shift upward.
D. shift downward.
Answer: D
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When first-degree price discrimination is perfectly implemented
a. social gain is maximized, with all gains going to the monopoly. b. consumers' surplus and producer's surplus are both larger than in the case of simple monopoly. c. the resulting deadweight loss is larger than if the monopoly did not price discriminate. d. the consumers' and producer's gains from trade are identical to those in a competitive market.
Refer to Table 2-1. Assume Dina's Diner only produces sliders and hot wings. A combination of 60 sliders and 50 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
A major advantage of the corporation is
a. limited taxes. b. preferential treatment by state governments. c. limited liability of individual owners. d. limited numbers of owners and ease of decision making.
A reduction in the real exchange rate will cause
A) a reduction in net exports. B) a reduction in the quantity of imports. C) a reduction in output. D) an increase in government spending. E) all of the above