At the equilibrium GDP for a private open economy:
A. net exports may be either positive or negative.
B. imports will always exceed exports.
C. exports will always exceed imports.
D. exports and imports will be equal.
A. net exports may be either positive or negative.
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A reduced demand for lawyers' services to prosecute damage suits
A) lowers the cost of hiring a lawyer to draw up a will. B) raises the cost of hiring a lawyer to draw up a will. C) raises the demand for lawyers' services in drawing up wills. D) will not affect the cost of hiring a lawyer to draw up a will though it could affect lawyers' fees.
Refer to Table 3-4. The table above shows the demand schedules for cashews of two individuals (Jordy and Amy) and the rest of the market. If the price of cashews rises from $4 to $6, the market quantity demanded would
A) decrease by 33 lbs. B) increase by 33 lbs. C) increase by 39 lbs. D) decrease by 39 lbs.