If a U.S. textbook publishing company sells texts overseas, U.S. net exports
a. increase, and U.S. net capital outflow increases.
b. increase, and U.S. net capital outflow decreases.
c. decrease, and U.S. net capital outflow increases.
d. decrease, and U.S. net capital outflow decreases.
a
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A jeweler cut prices in his store by 20%. As a result: a. Its total revenue would fall by 20% if the elasticity of demand was zero
b. Its total revenue would fall, but by less than 20% if the elasticity of demand is greater than zero but less than one. c. Its total revenue would rise if the elasticity of demand is greater than one. d. All of the above would be true.
In the United States, the incidence of poverty has declined since the 1970s
a. True b. False Indicate whether the statement is true or false
Suppose that a firm's long-run average total costs of producing an individual income tax return is $75 when it produces 1,000 returns and $75 when it produces 1,200 returns. For this range of output, the firm is experiencing
a. economies of scale. b. constant returns to scale. c. diseconomies of scale. d. specialization.
The equipment and structures available to produce goods and services are called
a. physical capital. b. human capital. c. the production function. d. technology.