The two major trading partners of the United States are
a. Germany and Mexico
b. Mexico and Canada
c. Japan and Canada
d. Canada and Brazil
e. Brazil and Japan
B
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Which of the following statements is true when total spending equals total output?
a. Saving plus taxes equals investment plus government purchases. b. Output equals investment plus government purchases plus saving plus taxes. c. Output equals consumption spending plus investment plus government purchases plus saving plus taxes. d. Output equals consumption plus investment plus taxes. e. Saving plus investment equals taxes plus government purchases.
In Figure 9-13, a movement of equilibrium from point D to point C could be caused by a(n)
a.
decrease in supply from S2 to S1 in response to economic profits following a decrease in demand from D2 to D1
b.
increase in short-run supply from S1 to S2
c.
increase in supply from S1 to S2 in response to economic profits caused by an increase in demand from D1 to D2
d.
an increase in demand from D1 to D2 in the short run
Which of the following helps explain the problem of disappearing political discourse?
A. Moral hazard B. The lemons model C. Statistical discrimination D. Adverse selection
The ________ sought to reduce the federal deficit by $36 billion each year between 1987 and 1991.
A. McCain-Feingold bill B. Sherman Antitrust Act C. Cellar-Kefauver Act D. Gramm-Rudman-Hollings Act