A consequence of increasing marginal costs of producing laptop computers in the United States is
A) the United States will import laptop computers from countries that don't experience increasing marginal costs.
B) the United States will stop short of complete specialization in the production of laptop computers.
C) the United States will not export laptop computers.
D) the United States will likely impose trade restrictions on imported laptop computers.
Answer: B
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If the dollar depreciates against the Indian rupee,
A) Indian imports to the U.S. become less expensive. B) The value of Indian imports to the United States does not change. C) U.S. exports to India become less expensive. D) U.S. exports to India become more expensive.
When government revenues exceed government outlays in a particular year, this is called
A) a budget surplus. B) a budget deficit. C) the national debt. D) fiscal policy.