In 2008, the U.S. current account balance was -$706 billion, net interest was +$119 billion, net transfers were -$128 billion, and exports were +$1,827 billion. Therefore, imports were

In the long-run equilibrium in perfect competition,

A) producer surplus is positive. B) producer surplus is negative. C) producer surplus is greater than consumer surplus. D) producer surplus is less than consumer surplus.

Which of the following is most likely to represent causality rather than association?

a. In years that fashion dictates wider lapels on men's jackets, the stock market grows by at least 5 percent. b. Interest rates are higher in years ending with a 1 or a 6. c. Unemployment falls when the AFC champion wins the Super Bowl. d. Quantity demanded goes up when price falls because lower prices increase consumer purchasing power, ceteris paribus.