Other things equal, when the real interest rate rises, C, I and NX ________ and real GDP will ________ relative to potential GDP

Whether a tax is levied on sellers or buyers, buyers and sellers usually share the burden of taxes

a. True b. False Indicate whether the statement is true or false

One way developing countries have been able to break into the world export market is by

A. joining international export cartels and creating monopoly in the export market. B. using Import-Substituting Industrialization (ISI) to force exports by limiting imports. C. becoming locations for low-cost assembly of more technologically advanced products. D. carrying out extensive research and development giving impetus to high technological progress.