U.S. exports represent two flows:
A. An outflow of goods or services, and an outflow of payments
B. An inflow of goods or services, and an outflow of payments
C. An outflow of goods or services, and an inflow of payments
D. An inflow of goods or services, and an inflow of payments
C. An outflow of goods or services, and an inflow of payments
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A surplus of labor is eliminated by ________ in the real wage rate and a shortage of labor is eliminated by ________ in the real wage rate
A) an increase; a decrease B) a decrease; an increase C) an increase; an increase D) a decrease; a decrease E) None of the above answers is correct because shortages and surpluses are eliminated by changes in the demand for labor and the supply of labor, not the wage rate.
A financial market in which previously issued securities can be resold is called a ________ market
A) primary B) secondary C) tertiary D) used securities
Which of the following is false? a. If demand decreases and supply increases, the equilibrium price will rise
b. If supply decreases and demand remains the same, the equilibrium price will rise. c. if supply increases and demand decreases, the equilibrium price will fall. d. if demand increases and supply decreases, the equilibrium price will rise.
When explaining expansions and recessions, the classical model is
a. reliable b. seriously flawed c. the favorite explanatory tool of economists d. overly focused on the labor market e. sometimes accurate and sometimes not