Gross exports for the United States depend most directly on the
A. Spending behavior of foreign consumers and businesses.
B. Spending behavior of U.S. government agencies.
C. Spending behavior of U.S. consumers.
D. Level of U.S. GDP.
Answer: A
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When the long-run average cost curve is downward sloping,
A) economies of scale are present. B) diseconomies of scale are present. C) the firm experiences constant returns to scale. D) the average fixed cost curve must be upward sloping. E) The premise of the question is wrong because long-run average cost curves never slope downward.
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.