The subject of borrowing by the U.S. from its citizens and from other countries, has resulted in one of the fiercest policy debates in recent years
a. True
b. False
Indicate whether the statement is true or false
True
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For a perfectly competitive corn grower in Nebraska, the marginal revenue curve is
A) downward sloping. B) the same as its demand curve. C) upward sloping. D) U-shaped. E) vertical at the profit maximizing quantity of production.
In an economy open to international trade ________
A) saving equals investment in equilibrium B) saving is the difference between net exports and investment C) saving equals investment as long as the economy has no exports D) saving equals investment as long as NX=0 E) none of the above
Suppose that the Fed decides to increase the growth rate of the money supply in the United States. What is most likely to happen to the U.S. trade deficit and to GDP?
A. The trade deficit will fall; GDP will fall. B. The trade deficit will rise; GDP will rise. C. The trade deficit will fall; GDP will rise. D. The trade deficit will rise; GDP will fall.
The rational-ignorance effect refers to the
a. lack of incentive voters have to become well-informed about candidates and issues because their vote is unlikely to affect the outcome of an election. b. fact that most people choose to become just as well-informed when making choices as consumers as they do when making choices as voters. c. lack of rational analysis on the part of voters when they choose not to become informed about candidates and issues even though this knowledge would produce great personal benefit to them. d. problem of not enough information being supplied to voters because politicians are not spending enough on campaign adds to inform voters of their positions on issues.