For most years of the nineteenth century, U.S. imports exceeded exports, and the U.S. economy had a trade deficit, which contributed to strong economic growth. This contributed to the U.S. economy having the highest per capita GDP in the world by around
a. 1900.
b. 1910.
c. 1920.
d. 1930.
a. 1900.
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Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
What is the difference between positive economic analysis and normative economic analysis? Give one example each of a positive and normative economic issue or question or statement
What will be an ideal response?
In the case of automobile and medical insurance, adverse selection might mean that as the cost of insurance rises, the good drivers and healthy people reduce their coverage, while the poor drivers and unhealthy people maintain their coverage
a. True b. False Indicate whether the statement is true or false
If personal taxes are increased by $10 billion, we can expect that consumers will reduce
a. spending by $10 billion. b. spending by more than $10 billion. c. spending by less than $10 billion. d. saving by $10 billion. e. saving by more than $10 billion.