A ________ occurs when a country's exports exceed its imports
A) trade surplus B) budget surplus C) trade deficit D) fiscal deficit
A
Economics
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A recessionary gap occurs when ________ so that real GDP is ________ potential GDP
A) aggregate demand decreases; less than B) aggregate supply decreases; less than C) potential GDP decreases; greater than D) aggregate demand increases; greater than E) aggregate supply increases; less than
Economics
If an indifference map for a consumer is made up of straight, negatively sloped lines, the marginal rate of substitution ________ as more of the good on the horizontal axis is consumed
A) does not diminish B) diminishes C) increases D) More information is needed to answer the question.
Economics