If consumption in the United States was 68 percent of GDP, investment was 19 percent, government purchases were 13 percent, exports were 14 percent, and imports were 14 percent, net exports were equal to ____ percent of GDP

The specific factors model assumes that there are ________ goods and ________ factor(s) of production

A) two; three B) two; two C) two; one D) three; two E) four; three

When a negative externality is present in a market, total surplus is:

A. lower when buyers only consider private costs. B. lower when buyers consider social costs. C. higher when buyers only consider private costs. D. None of these statements is true.