A surplus in a country's trade balance means that:
a. its net exports exceed transfer payments.
b. the country's currency is over-valued.
c. the value of its net exports is positive.
d. imports into the country exceed exports.
e. domestic savings exceeds domestic investment.
c
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For each of the following values of nominal GDP and real GDP, calculate the GDP price deflator
a) Nominal GDP = $600; real GDP = $800. b) Nominal GDP = $900; real GDP = $900. c) Nominal GDP = $1,200; real GDP = $1,000
During the Chinese experience with pegging the yuan to the dollar, the yuan was ________. As a result, there was a ________ of dollars on the market, and the Chinese government had to purchase dollars to maintain the peg
A) undervalued; shortage B) undervalued; surplus C) overvalued; shortage D) overvalued; surplus
A monopolistically competitive firm that earns an accounting profit in the short run
A) could earn an economic profit or break even, but could not suffer an economic loss in the short run. B) does not earn enough to earn an economic profit in the short run. C) could earn an economic profit, break even, or suffer an economic loss in the short run. D) must also earn an economic profit in the short run.
Country tends to grow faster when
a. Have more greater college graduates b. Less trade with the world c. Government restricts direction d. Savings and investments decreases e. Stock on physical capital