Suppose the demand for hard-wood flooring increases, while the demand for wall-to-wall carpeting decreases. Based on this change in consumer tastes, the demand for hard-wood-flooring factory workers in North Carolina increases, while the demand for carpet factory workers in Georgia decreases. This is an example of
a. frictional unemployment created by efficiency wages.
b. structural unemployment created by efficiency wages.
c. frictional unemployment created by sectoral shifts.
d. structural unemployment created by sectoral shifts.
c
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If Atlantis has an open economy, then it:
A. does not trade with other countries B. has a democratically elected government C. trades with other countries D. allows imports but not exports.
Interest received from U.S. holdings of foreign assets and interest paid to foreigners for U.S. investment assets is recorded in the
A) official dollar account. B) current account. C) official settlements account. D) capital and financial account. E) official reserves account.
Rent controls and the minimum wage are both examples of price ceilings
Indicate whether the statement is true or false
Your purchase in a downtown Cincinnati leather shop of an Italian-made Gucci purse would be classified in the U.S. GDP accounting as
a. an addition to inventory b. an investment good c. a domestic good d. an import e. an export