Net exports
a. are equal to total exports minus total imports
b. are always positive because total imports exceed total exports
c. are always negative because total exports exceed total imports
d. always exceed total exports
e. include goods produced and sold abroad
A
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Refer to the figure above. If the pre-tax equilibrium price of Good X was $3 and the price that sellers receive after the imposition of a tax of $3 is $2, the incidence of the taxation on sellers is approximately ________
A) 1% B) 15% C) 33% D) 21%
"Crowding out" occurs as an expansionary fiscal policy __________ interest rates, thus __________ investment spending
A) raises; increasing B) raises; decreasing C) lowers; increasing D) lowers; decreasing
As a percentage of total federal expenditures, national defense spending has _____ since the mid 1950s
a. slightly increased b. risen precipitously c. essentially stayed the same d. declined
The interpretation of the slope coefficient in the model Yi = β0 + β1 ln(Xi) + ui is as follows:
A) a 1% change in X is associated with a β1 % change in Y. B) a 1% change in X is associated with a change in Y of 0.01 β1. C) a change in X by one unit is associated with a β1 100% change in Y. D) a change in X by one unit is associated with a β1 change in Y.