The value of a country's exports during a particular year was $120,000 and the value of its imports was $85,000. Which of the following is true?
A) The country ran a fiscal deficit of $205,000 during that year.
B) The country ran a trade surplus of $35,000 during that year.
C) The country ran a budget surplus of $205,000 during that year.
D) The country ran a trade deficit of $35,000 during that year.
B
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Under a system of barter
A) each individual trades output directly with another. B) only agricultural goods may be traded. C) goods may be traded for money, but money may not be traded for goods. D) currency is accepted for purchases, but personal checks are not.
Which of the following is not an example of crowding out?
A) Government purchases rise, the budget deficit rises, the federal government's demand for loanable funds rises, the interest rate rises, and investment falls. B) Government spends more on X, prompting individuals to spend less on X. C) Taxes decline, the budget deficit rises, the federal government's demand for loanable funds rises, the interest rate rises, the demand rises for U.S. dollars, the dollar appreciates, and net exports decline. D) Business firms spend more on X, prompting households to spend less on Y. E) none of the above