An unfavorable balance of trade occurs when
a. value of exports equals the value of imports
b. the balance of payments is balanced
c. the current and capital accounts in the balance of payments are equal
d. the value of exports exceeds the value of imports
e. the value of exports is less than the value of imports
E
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If input prices are constant, a firm with increasing returns to scale can expect
A) costs to double as output doubles. B) costs to more than double as output doubles. C) costs to go up less than double as output doubles. D) to hire more and more labor for a given amount of capital, since marginal product increases. E) to never reach the point where the marginal product of labor is equal to the wage.
What is the difference between the Keynesian and rational expectations theories concerning the success of stabilization policy?
Rank the following assets from most liquid to least liquid.a) Common stockb) Housesc) Currencyd) Arte) Savings accountsf) Checking account deposits.
What will be an ideal response?
A supply curve that is a vertical straight line indicates that:
A. production costs for this product cannot be calculated. B. the relationship between price and quantity supplied is inverse. C. a change in price will have no effect on the quantity supplied. D. an unlimited amount of the product will be supplied at a constant price.