To judge the size of government debts and deficits, we should use real values
a. True
b. False
A
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A country experiencing an international financial crisis will likely
A) be able to maintain growth and prosperity in its domestic economy, but its export sector will suffer. B) see an increase in foreign direct investment. C) see an increase in portfolio investment. D) encounter difficulty in sustaining its economic growth rate.
Which of the following is not one of the four broad categories of resources?
A) labor B) money C) capital D) entrepreneurship E) land
An inflationary gap occurs when
A. short-run aggregate supply falls, but other things remain constant. B. the short-run equilibrium level of real GDP is greater than long-run aggregate supply. C. the short-run equilibrium level of real GDP is less than long-run aggregate supply. D. aggregate demand falls, but other things remain constant.
When there are no externalities
A. social costs are less than private costs. B. private costs equal social costs. C. social costs are greater than private costs. D. private costs are greater than social costs.