During 2001-2004, the European Union had a large trade surplus with China.
Answer the following statement true (T) or false (F)
False
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If government purchases increase and net taxes decrease, _____
a. the price level will fall b. money supply must rise c. the aggregate demand curve shifts leftward d. aggregate supply shifts rightward e. output and employment will increase
Figure 11-2
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As we move down the production possibilities schedule in Figure 11-2, each successive point is
A. less efficient. B. more efficient. C. equally efficient. D. more or less efficient; we cannot tell which.
Credit risks are based mainly on:
a. The maturity of an issue. b. The amount of national credit outstanding relative to GDP. c. The solvency, performance, and liquidity of borrowers. d. The degree to which market variables, like interest rates and exchange rates, change. e. None of the above.
A bank has $150 million in assets and $90 million in liabilities. The bank's net worth is _____________ million and the bank is ____________
A) $105; insolvent B) $40; insolvent C) $60; solvent D) $60; solvent