A trade deficit refers to a situation where:
A. Government spending (including transfer payments) exceeds tax revenues
B. A nation's purchases from other nations are less than its sales to other nations
C. Assets are less than liabilities
D. Exports are less than imports
D. Exports are less than imports
Economics
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There is no shortage of scarce resources in a market economy because
a. the government makes shortages illegal. b. resources are abundant in market economies. c. prices adjust to eliminate shortages. d. quantity supplied is always greater than quantity demanded in market economies.
Economics
Using the equation of exchange, if inflation is 1%, the velocity of money grows by 1.0% and the growth rate of money is 3.0%; what is real growth?
A. 4.0% B. 1% C. -1.0% D. +3.0%
Economics