The value of a country's exports is listed in its balance of payments account as a(n)
a. credit
b. debit
c. payment
d. investment
e. unilateral transfer
A
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Why do economists say that even very rich people face scarcity?
What will be an ideal response?
Explain why under the gold standard a perpetual surplus or a perpetual deficit is impossible
What will be an ideal response?
Which of the following people would be officially counted as unemployed?
a. A person who works only 5 hours per week for pay. b. A full-time college student who chooses not to have a paying job. c. A family member who works 20 hours per week without pay. d. A jobless high-school graduate who is actively looking for work.
The big labels in the music industry, such as Sony, Time-Warner, and Universal, are churning out thousands of CD albums each year that compete against each other for your dollar. But, considering the CD industry only, they also compete against
a. records b. cassette tapes c. used CDs d. stereos e. used textbooks