If foreigners spend more on U.S.-made goods and services than we spend on theirs
A) foreigners must borrow from the United States or sell U.S. assets to make up the difference.
B) all U.S. national saving remains in the United States.
C) we must borrow from foreigners because of low imports.
D) funds flow in from abroad to help finance U.S. investment.
A
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A measure of a country's production is its
A) general domestic production. B) gross domestic product. C) gross daily production. D) general daily product. E) gross total output.
Menu costs ________
A) are the cost a firm bears when it changes its prices B) are one source of price stickiness because changing prices involves many hidden costs C) are one source of price stickiness because firms may not want to change their "menus" too often and risk alienating customers D) all of the above E) none of the above
What is true in a market characterized by a natural monopoly?
A. The firm is always extremely large B. The existence of economies of scale over the entire market demand C. The size of the firm’s profits D. The amount of innovation carried out by the firm
Larry looks at his wage statement. How can he recognize what is known as payroll tax?
a. The tax will be funded entirely by his employer. b. The tax will be entirely funded from his own wages. c. The tax will be broken down into an hourly rate. d. The tax will come from his wages and his employer’s contribution.