A surplus in a country's trade balance means that:
a. its net exports exceed transfer payments.
b. the country's currency is over-valued.
c. the value of its net exports is positive.
d. imports into the country exceed exports.
e. domestic savings exceeds domestic investment.
c
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All of the following are reasons why the wages of workers and the prices of inputs rise more slowly than the prices of final goods and services except
A) contracts make prices and wages sticky. B) unions are successful in pushing up wages. C) menu costs make some prices sticky. D) firms are often slow to adjust wages.
As of 2013, how large is the debt of developing countries to the rest of the world?
A) $350 million B) $350 billion C) $7 trillion D) $35 trillion E) $3.5 trillion
The turnpikes built in the early 1800s were
(a) intercity toll roads. (b) highly profitable enterprises. (c) financed entirely by private enterprise. (d) regulated by the federal government.
Which of the four criteria for an ideal voting system is demonstrated when everyone in a town prefers spending on improved public transportation systems instead of public parks, and transportation spending wins?
A. No dictator B. Unanimity C. Transitivity D. Independence of irrelevant alternatives