U.S. exports are goods and services
A. produced abroad and sold to foreigners.
B. produced in the United States and sold to foreigners.
C. produced abroad and sold to Americans.
D. produced in the United States and sold to Americans.
Answer: B
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If information is asymmetric, explain why the hire contract is not efficient in production and a moral hazard exists, but the fixed fee to the principal contract is efficient and does not pose a moral hazard problem
What will be an ideal response?
If consumption is greater than income, saving must be negative
a. True b. False Indicate whether the statement is true or false
Refer to the graph shown. Areas C and D represent:
A. the loss of surplus by producers resulting from a monopoly. B. consumer surplus redistributed to the monopolist. C. the cost to society of increasing output from Qm to Qc. D. the loss of surplus by consumers resulting from a monopoly.
The economy pictured in the figure below has a(n) ________ gap with a short-run equilibrium combination of inflation and output indicated by point ________. 
A. recessionary; B B. recessionary; C C. recessionary; A D. expansionary; A