7. Net capital outflow a. is always greater than net exports. b. is always less than net exports. c. is always equal to

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7 Net Capital Outflow A Is Always Greater Than Net Exports B Is Always Less Than Net Exports C Is Always Equal To 1 (47.75 KiB) Viewed 23 times

7. Net capital outflow a. is always greater than net exports. b. is always less than net exports. c. is always equal to net exports. d. could be greater than, less than or equal to net exports. 8. The law of one price" states that a. a good must sell at the price fixed by law. b. a good must sell at the same price at all locations. c. a good cannot sell for a price greater than the legal price ceiling. d. nominal exchange rates will not vary. 9. If a country has Y > C+I+G, then it has a. positive net capital outflow and positive net exports. b. positive net capital outflow and negative net exports. c. negative net capital outflow and positive net exports. d. negative net capital outflow and negative net exports. 10. An open economy's GDP can be expressed by a. Y=C+I+G. b. Y=C+I+G+T. c. Y=C+I+G+S. d. Y=C+I+G+ NX. 11. If a country sells fewer goods and services abroad than it buys from other countries, it is said to have a trade a. surplus and positive net exports. b. surplus and negative net exports. c. deficit and positive net exports. d. deficit and negative net exports. 12. Which of the following would shift the long-run aggregate supply curve right? a. Both an increase in the capital stock and an increase in the price level b. An increase in the capital stock, but not an increase in the price level c. An increase in the money supply, but not an increase in the capital stock d. Neither an increase in the money supply nor an increase in the capital stock 13. The sticky-wage theory of the short-run aggregate supply curve says that when the price level rises more than expected, production is a. more profitable and employment and output rises. b. more profitable and employment and output falls. c. less profitable and employment and output rises. d. less profitable and employment and output falls.