A trade surplus exists if export spending is less than import spending
Indicate whether the statement is true or false
FALSE
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Marla is an architect who is designing a home for Chuck. Chuck is paying Marla $150 per hour to design his new home. When Chuck and Marla get married, Marla continues to work on designing the home, but she no longer charges Chuck for her work
As a result, GDP ________ because ________. A) falls; Marla's architectural design services are no longer bought by Chuck once they're married B) falls; Marla's work becomes less valuable once she's married C) rises; Marla becomes more productive once she's married D) falls; Marla's work takes place in the underground economy once she's married
In Exhibit 5-9, the price elasticity of supply for good X between points E and C is:
a. 7/5 = 1.40. b. 1/5 =0.20. c. 5/7 = 0.71. d. 1.
A . Explain why an inflationary gap is a problem. b. Explain the Keynesian view of how the government can close an inflationary gap
Refer to the accompanying figure. The opportunity cost of making an additional salad:
A. decreases as the number of salads increases. B. increases as the number of salads increases. C. decreases as the number of pizzas decreases. D. remains constant regardless of how many salads are made.