The value of exports minus the value of imports is called the:
A. trade value.
B. net budget balance.
C. balance of trade.
D. net trade value.
C. balance of trade.
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The demand for most agricultural products tend to be price inelastic
a. True b. False
Full-employment equilibrium occurs when
A) real GDP exceeds potential GDP. B) real GDP equals potential GDP. C) potential GDP exceeds real GDP. D) None of the above answers are correct.
Refer to the Article Summary. According to the summary, the Chinese economy is trying to move away from an export based economy, while at the same time imports have declined. This decrease in exports and decrease in imports will
A) decrease net exports if the decline in exports is greater than the decline in imports. B) increase net exports if the decline in exports is greater than the decline in imports. C) definitely increase net exports. D) definitely decrease net exports.
Firm A, a small ancillary firm, needs funds to purchase new machinery for its factory. The best way the firm can raise funds is: a. by taking credit from a credit union. b. by issuing stocks
c. by issuing bonds. d. by taking out a bank loan.