Suppose a country's net exports equal -$2.1 billion. Which of the following will happen if the volume of exports increases by $3 billion without any change in the volume of imports?
A) The country's net exports will stand at -$5.1 billion.
B) The country's net exports will stand at zero.
C) The country's net exports will stand at -$0.9 billion.
D) The country's net exports will become positive.
D
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The above figure shows two Lorenz curves. Lorenz curve A shows the distribution of income and Lorenz curve B shows the distribution of wealth. Which statement below is CORRECT?
A) The Lorenz curve for wealth shows that wealth is distributed less equally because wealth does not include human capital. B) The Lorenz curve for income shows that income is distributed less equally because income does not include income from stocks and bonds. C) The Lorenz curves show wealth is greater than income. D) The Lorenz curves show income is greater than wealth.
Which of the following is a disadvantage that proprietorships face and corporations do not?
a. company size too big to manage effectively b. access to familiar and even family labor c. owners' control over day-to-day operations d. double taxation e. unlimited liability
Given AD2 and AS1, the equilibrium price level in Figure 8.3 is
A. P1. B. P2. C. P3. D. P4.
National wealth is the value of
A. net foreign assets. B. domestic and foreign physical and financial assets. C. domestic physical and financial assets. D. domestic physical assets plus net foreign physical and financial assets.