At the core of the American trade problem is that
A. Americans spend too much on consumption.
B. the dollar is too low.
C. the Japanese are excluding American products by means of high protective tariffs.
D. American manufacturers are too quality conscious and should instead concentrate on reducing costs.
A. Americans spend too much on consumption.
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Which of the following will not lead to increase in the marginal revenue product?
A. MPP increases without any changes in the price. B. Price of the product increases without any changes in MPP. C. MPP and price of the product increase. D. MPP remains the same and price of the product falls.
Villagers in Xiaogang, China, produced more rice than those in surrounding villages because:
a. they had better farmland. b. they were given better seeds. c. they were able to keep the output they produced individually. d. they made each family responsible for a certain, higher quota of rice production. e. they had common ownership over the rice produced.
Money market mutual funds are ________ the M1 measure of money and ________ the M2 measure of money.
A. excluded from; excluded from B. included in; excluded from C. excluded from; included in D. included in; included in
The negative slope of the production possibilities curve is a graphical way of indicating that:
A. any economy "can have its cake and eat it too." B. to produce more of one product we must do with less of another. C. the principle of increasing opportunity costs applies to only parts of the economy. D. consumers buy more when prices are low than when prices are high.