When a country's exports of goods are ________ its imports of goods in a given period, it has a trade deficit.
A. less than
B. unrelated to
C. equal to
D. greater than
Answer: A
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Which of the following is likely to increase the total efficiency units of labor in an economy?
A) An increase in the level of education attained by each worker B) An increase in the amount of capital available to each worker C) An increase in the inflation rate in the economy D) An increase in the unemployment rate in the economy
A Nash bargaining solution
A) is not the same as a Nash equilibrium. B) is derived from a Nash equilibrium. C) gives a solution in both cooperative and non-cooperative games. D) None of the above.
An increase in supply is shown by:
a) a movement up along the supply curve. b) a movement down along the supply curve. c) a rightward shift of the supply curve. d) a leftward shift of the supply curve. e) an initial movement up and then down along the same supply curve.
Fiscal and monetary policy can be used to change the price level but not output when the aggregate
A. Demand curve is vertical. B. Supply curve is vertical. C. Supply curve is upward-sloping but not vertical. D. Supply curve is horizontal.