Which of the following statements regarding openness of an economy and growth is TRUE?
What will be an ideal response?
economies that are open to trade grow at a faster rate economically than those that are closed
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As shown in the figure above, the rent ceiling
A) decreases consumer surplus. B) increases producer surplus. C) decreases deadweight loss. D) increases the quantity of housing rented. E) is efficient.
In 2009 about ________ percent of the states permit branch banking.
A. 40 B. 20 C. 80 D. 60
A famous American has been visiting the same tropical island for 15 years for vacations. When she goes she pays for everything by writing checks drawn on her U.S. bank. The currency the natives use are not U.S. dollars; they use a currency called a fungo. The natives never cash her checks. She is so well known on the island that the natives simply trade her checks among themselves. The question you need to answer, complete with an explanation, is: who is paying for her vacation? (You can assume her bank would honor the checks if presented for payment even after a considerable period of time has passed.)
What will be an ideal response?
In equilibrium, real GDP is equal to
A. C + I + G + X + S. B. C + I + X - G. C. C + I + G - X. D. C + I + G + X.