When the U.S. dollar drops in value exports tend to:
A. go up, which increases the trade deficit.
B. fall, which increases the trade deficit.
C. fall, which decreases the trade deficit.
D. go up, which decreases the trade deficit.
Answer: D
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The opportunity cost of holding money varies with the __________.
Fill in the blank(s) with the appropriate word(s).
The Laffer curve shows as tax rates rise, tax revenue:
A. rises. B. first rises, then falls, and then rises again. C. falls. D. first rises, and then falls.
The basic problem of economics arises when there are unlimited resources available to fulfill society's limited wants
a. True b. False
The inputs that a manager uses to alter production are referred to as:
A. fixed factors. B. variable factors. C. long-run factors. D. All of the statements are correct.