When a country exports more than it imports, the country has ________.
A. an increase in aggregate supply
B. a trade deficit
C. a decrease in aggregate demand
D. a trade surplus
Answer: D
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A company that rewards its salespeople based on the number of sales made can expect
a. Higher sales prices b. Lower sales prices c. No sales d. All of the above
The main goal of the Fair Trade Commissions Act was to
A. limit mergers and price-fixing contracts. B. make deceptive practices illegal. C. limit competition among small firms. D. make restraint of trade illegal.
If people expect the Fed to adopt a(n) ________ for several years, the long-run real interest rate will remain ________
A) contractionary fiscal policy; high B) expansionary fiscal policy; low C) expansionary monetary policy; low D) contractionary monetary policy; low
In order to maximize profits, a firm should decrease output whenever total cost exceeds total revenue
a. True b. False