A debit item in the balance of payments is
A. any foreign aid received by the country.
B. an item that creates a monetary claim on a foreigner.
C. an item for which the country must pay.
D. any exported item.
Answer: C
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What is Money?
Real wages usually lag behind the increases in labor productivity.
Answer the following statement true (T) or false (F)
Suppose leisure is on the horizontal axis and dollars are on the vertical axis in the consumer-choice diagram. What happens to the budget line when a head tax is imposed?
a. The budget line shifts inward, but it may become steeper or flatter depending on the size of the head tax.
b. The budget line pivots about the horizontal intercept, becoming steeper.
c. The budget line become flatter, with the vertical intercept falling and the horizontal intercept remaining fixed.
d. There is an inward, parallel shift in the budget line.
The slope of an isoquant is equal to the ratio of the price of the input on the horizontal axis divided by the price of the input on the vertical axis, multiplied by -1
Indicate whether the statement is true or false