Net exports are defined as:
a. exports plus imports
b. exports minus imports.
c. imports minus exports.
d. exports plus imports minus tariffs.
b
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A freeze in Florida's orange growing regions will:
A) result in a sharp increase in the price of oranges in the short run because demand and supply are highly inelastic. B) result in a sharp increase in the price of oranges in the short run because demand and supply are highly elastic. C) result in a sharp decrease in the price of oranges in the short run because demand is highly inelastic and supply is highly elastic. D) result in little change in the price of oranges in the short run because supply is infinitely elastic.
Suppose the Fed sells $10 million in government securities to a commercial bank. If the required reserve ratio is 0.2, what is the maximum amount by which checkable deposits in the banking system can change?
a. +$10,000,000 b. ?$10,000,000 c. +$50,000,000 d. ?$50,000,000 e. +$20,000,000
Margaret, who lives in Des Moines, has been saving for years in order to take a trip to England this summer. She would be happy if the dollar suddenly depreciates in value against the pound
a. True b. False Indicate whether the statement is true or false
An inferior good is defined by an income elasticity less than 1
a. True b. False