When are net exports negative?
A. A nation's imports exceed its exports.
B. A nation's exports exceed its imports.
C. The economy's stock of capital goods is declining.
D. Depreciation exceeds domestic investment.
Answer: A
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Which of the following statements is true?
A) Arithmetic or geometric growth rates gives similar answers for long periods. B) Using either arithmetic or geometric average to compute average growth rates gives similar answers for short periods. C) Geometric average of growth rate ignores the exponential nature of growth. D) Arithmetic calculation of growth rate considers the exponential nature of growth.
In the above figure, the slope at point b
A) lies between 1/3 and 1. B) equals 1. C) lies between 1 and 2. D) exceeds 2.
Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubled her workers to 2, and grew 4,500 pounds of herbs
She sells her rare, organic herbs for $50 a pound. She pays her workers $25,000 a year and rents her land for $100 per square foot for a year. These are her only costs. a) What was Ayanna's total cost last year and this year? b) What was Ayanna's average total cost last year and this year? c) Did Ayanna experience economies or diseconomies of scale?
Economic growth is:
a. a movement along the production possibilities curve. b. a change in the combination of the economy's outputs. c. an outward shift of the production possibilities curve. d. difficult to determine for any one year.