Author Question: The balance of trade includes trade in A) goods only. B) both goods and services. C) services ... (Read 292 times)

cookcarl · **on:** Jun 29, 2018

The balance of trade includes trade in

A) goods only. B) both goods and services.
C) services only. D) neither goods nor services.

Question 2

Refer to Table 16-3. Consider the hypothetical information in the table above for potential real GDP, real GDP, and the price level in 2016 and in 2017 if Congress and the president do not use fiscal policy.

If Congress and the president use fiscal policy successfully to keep real GDP at its potential level in 2017, which of the following will be higher than if Congress and the president had taken no action?
A) real GDP and potential GDP B) real GDP and the inflation rate
C) real GDP and the unemployment rate D) potential GDP and the inflation rate