Exports are $800 billion, imports are $900 billion. Which of the following are t

Question

Exports are $800 billion, imports are $900 billion. Which of the following are true?

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Question 21 pts

Excise taxes are generally progressive.

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Question 31 pts

Net exports is a negative figure whenever

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Question 41 pts

If Person A earns a salary of $40,000 and Person B earns a salary of $800,000:

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Question 51 pts

International trade:

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Question 61 pts

In the treatment of American exports and imports, national income accountants

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Question 71 pts

When there is a trade deficit:

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Question 81 pts

Which is the most accurate statement?

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Question 91 pts

Suppose incomes from 0 to $10,000 have an 8% marginal tax rate, incomes from $10,001 to $20,000 have a 10% marginal tax rate and incomes above that have a 15% marginal tax rate. Your income is $28,000, what is your income tax?

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Question 101 pts

Most transfers in the U.S. go to households.

Explanation / Answer

Question 1

Net exports is the difference between exports and imports.

In given case,

Exports = $800 billion

Imports = $900 billion

Net exports = Exports - Imports = $800 billion - $900 billion = -$100 billion

Thus, net exports is negative in given case.

Hence, the correct answer is the option (2).

Question 3

Net exports is the difference between exports and imports.

In algebric terms,

Net exports = Exports - Imports

If exports are greater than the imports then net exports turns out to be positive.

On the other hand, if imports are greater than the exports then net exports turns out to be negative.

So, it can be stated that net exports is a negative figure whenever a nation's imports of goods and services exceed its exports.

Hence, the correct answer is the option (2).

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