In a year, if foreigners invest ________ in the United States than the United States invests abroad, the capital and financial account balance is ________
A) less; positive
B) more; zero
C) less; zero
D) more; positive
E) more than; negative
D
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Gross domestic product (GDP) equals the ________ of final ________ produced within a country during a given period of time.
A. market value; goods and services B. quantity; goods and services C. market value; goods D. market value; services
The welders' union at Ajax is on strike. The maintenance union has decided to walk out in support of the welders' union. This is known as
A) a closed shop. B) a union shop. C) a sympathy strike. D) a secondary boycott.
After hiring a new employee, a manager finds that the total output has increased. When the manager hires another employee however, he realizes that although the total production has increased, the increment is less than the previous case. This is the result of:
a. diseconomies of scale. b. a general economic downturn. c. diminishing marginal returns. d. the lack of skills of the two new employees. e. constant returns to scale.
Under a fractional-reserve banking system, the money supply cannot change without any action from the Federal Reserve
a. True b. False Indicate whether the statement is true or false