What is one way that the trade deficit of the United States is financed?
A. By U.S. buying real assets abroad
B. By selling real assets of the U.S. to foreign buyers
C. By borrowing from U.S. citizens
D. By lending from U.S. banks
B. By selling real assets of the U.S. to foreign buyers
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Which of the following is NOT true about price floors?
A) Consumer surplus is always lower than it would be in the competitive equilibrium. B) Producer surplus could be lower, higher, or the same as it would be in competitive equilibrium. C) Producer surplus could be negative as the result of a price floor. D) Producers will often respond to a price floor by cutting production to the point at which price equals marginal cost. E) The total producer surplus depends on how producers respond to the price floor in determining their output level.
The __________ shows a direct relationship between consumption spending and disposable income.
A. consumption function B. aggregate demand curve C. investment demand curve D. supply of income curve
Refer to the graph shown. If the price level is P0 the:
A. aggregate demand curve will shift up in the long run to restore equilibrium. B. short-run aggregate supply curve will shift up (to the left) in the long run to restore equilibrium. C. aggregate demand curve will shift down in the long run to restore equilibrium. D. short-run aggregate supply curve will shift down (to the right) in the long run to restore equilibrium.
All of the following reduce the transaction costs for consumers EXCEPT
A) eBay. B) a shopping mall. C) a court decision regarding product safety. D) a grocery store.