Paul, a Canadian citizen, purchases oranges grown in Florida. This purchase is an example of
a. a U.S. import and a Canadian export
b. a U.S. export and a Canadian import
c. an export for both the U.S. and Canada
d. an import for both Canada and the U.S.
b
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All of the following were provisions of the 2009 American Reinvestment and Recovery Act except
A) a temporary extension of unemployment benefits. B) expanded tax credits for parents for their children's college tuition. C) a reduction in government-funded infrastructure spending. D) a reduction in employees' payroll tax contributions.
New Keynesian explanations for sticky prices and wages include
a. menu costs. b. efficiency wages. c. insider-outsider distinctions. d. productivity shocks. e. all but d.
According to the circular flow diagram, a manufacturer of arms would provide arms in the market for goods and services and receive _____ in return
a. revenue b. scarce resources c. arms d. technological knowhow
The opportunity cost of receiving $10 in the future as opposed to getting that $10 today is:
A. the taxes paid on any earnings. B. the foregone interest that could be earned if you had the money today. C. the value of $10 relative to the total income of that person. D. the value of $10 relative to the total income of all persons.