A World View titled "Export Ratios" examines the openness of trade for several countries based on the trade to GDP ratio. Of the countries listed below, which exports the least (as measured as a percentage of GDP)?
A. United States.
B. Canada.
C. United Arab Emirates.
D. Belgium.
Answer: A
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When we apply economic analysis to democracies, it is reasonable to expect government policies to be serving
A) many extremely partial or special interests. B) the interests of business generally. C) the interests of consumers. D) the interests of the majority. E) the interests of the people who most highly value the results of government actions.
Consumption smoothing is a logical consequence of ________
A) basing decision-making on real rather than nominal interest rates B) the convexity of indifference curves and the ability to borrow and lend C) the negative slope fo the intertemporal budget constraint D) rational expectations
Refer to Figure 4-6. The amount of the excise tax I is
a. $.50. b. $1.50. c. $1.00. d. $2.00.
The budget deficit/surplus projections for 2005 that were made in 2001 were wrong by
A. several trillion. B. several hundred billion. C. less than a billion. D. several hundred trillion.