In calculating the nation’s total output, net exports do not
A. represent exports of goods and services minus imports of goods and services.
B. have been a negative number in the last several years.
C. would include purchases of U.S.-made automobiles by foreigners minus purchase of foreign-made automobiles by U.S. residents.
D. have been positive since global trade as expanded.
Answer: D
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The United States uses tax funds to build and repair the interstate highway system and to provide health care services via Medicare. Suppose Medicare services are on the horizontal axis and highway miles are on the vertical axis of a PPF
If the government decides to reduce funding to Medicare, this change would be shown as A) a shift out of the PPF. B) the PPF becoming flatter. C) a movement down along the PPF. D) a movement up along the PPF.
Why is it the case that taxes in one market can have impacts on supply and demand in others and should policy makers take this into account when setting taxes?
What will be an ideal response?
A main trading partner with the U.S. is:
A. South Africa. B. Mexico. C. Russia. D. Saudi Arabia.
A higher U.S. federal budget deficit may act to raise future U.S. interest payments to foreigners
a. True b. False Indicate whether the statement is true or false