The U.S.'s high trade deficit must be balanced by:

A. net capital inflows.
B. high net capital outflows.
C. low net capital outflows.
D. None of these statements is true.


A. net capital inflows.

Economics

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What is the chain-weighted price index for GDP in the base year?

A) 0 B) 1 C) 100 D) The answer depends on the price index for the current year.

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Economics is best defined as the science of choice and how people cope with

A) differences in wants. B) differences in needs. C) scarcity. D) different economic systems.

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Which of the following statements is TRUE?

A) At the monopolist's equilibrium, resources are being efficiently allocated. B) With a monopoly, the value to society of the last unit produced is less than it's production cost. C) Monopolists raise the price and restrict production, compared to a competitive situation. D) A monopolist always produces a higher level of output than would be produced if the market were competitive.

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Suppose Larry's Lariats produced 25,000 lassos and sold each for $10. What was the total revenue for the company?

A. $250,000 B. $25,000 C. $2,500 D. $2,500,000

Economics