A shortage is the same as an excess demand
a. True
b. False
Indicate whether the statement is true or false
True
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Depreciation of the Japanese Yen would lead to
a. outward shift in the aggregate supply curve for Japan. b. upward shift in the aggregate demand curve for Japan. c. downward shift in the aggregate supply curve for Japan. d. inward shift in the aggregate demand curve for Japan.
Net exports represent the difference between exports and imports
Indicate whether the statement is true or false
Which one of the following accounting identities is TRUE?
A. National income plus profit equals personal income. B. Disposable personal income plus non-income expense items equals personal income. C. Disposable personal income plus indirect business taxes equals personal income. D. Disposable personal income plus personal income taxes equals personal income.
An appreciation in the U.S. dollar benefits which of the following groups of people?
a. all people living in the United States b. U.S. producers who export farm equipment to other countries c. U.S. consumers who buy imported automobiles d. foreigners who wish to travel to the United States e. U.S. consumers who buy U.S. goods