The saving-investment analysis for large open economies is somewhat more complicated than the analysis for small open economies mainly because ________
A) there is more information to keep track of for larger economies
B) there are more unknowns in larger economies
C) a larger economy may actually affect the world economy
D) all of the above
E) none of the above
C
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Refer to Figure 13.2. If Oliver's political views place him at the L4 position and George's political views place him at the C4 position,
Oliver will definitely receive at least ________ votes and George will definitely receive at least ________ votes. A) 4; 4 B) 4; 5 C) 5; 4 D) 5; 5
If the price of hot dogs increases, the demand for hot dog buns will
A) increase. B) decrease. C) remain constant. D) shift to the right.
As the price level decreases real GDP demanded increases because
A. consumer wealth increases. B. net exports decrease. C. interest rates decrease and cause lower investment. D. net exports are indeterminant .
When producing a good generates negative externalities, the private market for that good tends to produce too:
A. little of the product at too low a price. B. little of the product at too high a price. C. much of the product at too low a price. D. much of the product at too high a price.