Between 2009 and 2013,
A. both the actual and the structural deficit fell substantially.
B. both the actual and the structural deficit rose substantially.
C. the actual deficit rose, while the structural deficit fell substantially.
D. the structural deficit rose, while the actual deficit fell substantially.
Answer: A
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A price floor:
A. establishes a maximum price. B. establishes a minimum price. C. establishes a maximum quantity. D. establishes a minimum quantity.
In the IO perspective it is important to enter an industry with
a. High supplier power b. Low threat from substitutes c. Low levels of rivalry between firms d. Only B & C
Your neighbor has knowledge of economics and you would like her to share it with you. You own a car, a CD player and a new pair of running shoes. You wish to make a trade, but the neighbor does not want what you have. The problem can be stated as follows: You are not satisfying the
A) rule of transaction costs. B) double coincidence of wants. C) law of marketability. D) terms of a common denominator.
Specialization in production
A. Makes a country weak. B. Reduces the standard of living. C. Increases output. D. Decreases total world output.