A country imported goods and services worth $40 billion and exported goods and s

Question

A country imported goods and services worth $40 billion and exported goods and services worth $37.8 billion during a particular year. Refer to the scenario above. This implies that the country experienced a ________ during that year. A. budgetary surplus B. budgetary deficit C. trade surplus D. trade deficit

Investments that a bank makes are known as: A. liabilities. B. capital. C. assets. D. deposits.

Consider two economies, Beta and Zeta. Each farmer in Beta can grow 1,000 pounds of apples in a year or 500 pounds of oranges. Each farmer in Zeta can grow 400 pounds of apples or 1,200 pounds of oranges in a year. Refer to the scenario above. The opportunity cost of producing one pound of apples in Beta is: A. 1/2 pounds of oranges. B. 15 pounds of oranges. C. 2 pounds of oranges. D. 10 pounds of oranges.

One of the impacts of maturity transformation is that: A. it increases the rate of inflation. B. it decreases the rate of inflation. C. relatively illiquid assets become relatively liquid. D. relatively liquid assets become relatively illiquid.

Which of the following statements is true of models? A. Models are always based on assumptions that are known to be true. B. It is more important for a model to be simple and useful than to be precisely accurate. C. The predictions of a model are referred to as data. D. A model is formulated after developing a hypothesis.

Everything else equal, an increase in the demand for dollars in exchange for pesos: A. will cause the dollars to appreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market. B. will cause the dollars to depreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market. C. will cause the dollars to appreciate against the pesos and will increase the quantity of dollars being traded in the foreign exchange market. D. will cause the dollars to depreciate against the pesos and will decrease the quantity of dollars being traded in the foreign exchange market

A shoe retailer does not give a bill for shoes purchased from his store and does not report his income correctly to evade taxes. If you pay him $50, ________. A. the GDP of your country will fall B. the GDP of your country will increase C. the GDP of your country will remain unchanged D. the trade surplus of your country will increase

Explanation / Answer

Ans 1

D) trade deficit

Ans 2

C) assets

Ans 3

A) 1/ 2 pound of oranges

Ans 4

C) relatively illiquid assets become liquid

Ans 5

D) a model is formulated after developing a hypothesis

Ans 6

C) will cause dollar to appreciate and will increase the quantity of dollar...

Ans 7

C) GDP will remain unchanged

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