A favorable balance of trade occurs when
a. merchandise exports are greater than merchandise imports
b. merchandise imports are greater than merchandise exports
c. international trade is an increasing share of total output
d. the balance on capital account equals the balance on current account
e. unilateral transfers are positive
A
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Refer to the table above. Spain has comparative advantage in
A) grapes. B) textiles. C) both grapes and textiles. D) neither grapes nor textiles.
The job finding rate is defined as
A) the probability that someone who has been unemployed for over a year will find a job in the next month. B) the probability that someone who is not in the labor force will enter the labor force in the next month. C) the probability that someone who is employed will change jobs in the next month. D) the probability that someone who is unemployed will find a job in the next month.
Pollutants are not harmful if they are degradable in water
Indicate whether the statement is true or false
If a large percentage increase in the price of a good results in a small percentage reduction in the quantity demanded of the good, demand is said to be
a. of unitary elasticity. b. relatively inelastic. c. relatively elastic. d. perfectly elastic.