If Belgium has exports of 50 billion euros and imports of 40 billion euros, then it is running a trade deficit.
Answer the following statement true (T) or false (F)
False
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Which of the following statements is true?
A) Growth in technology is linear in nature. B) Growth in land productivity is exponential in nature. C) Growth in technology is exponential in nature. D) Growth in labor productivity is exponential in nature.
The sorting and separation of people by various characteristics, including race, ethnicity, religion, and gender is called
A) affirmative action. B) discrimination. C) segregation. D) demographic manipulation.
In the case of a small country, producer surplus
A) increases more with a tariff than with an equivalent quota. B) increases more with a quota than with an equivalent tariff. C) is not changed by tariffs or quotas. D) increases the same with tariffs and equivalent quotas. E) increases more with quotas.
Which of the following events will cause a leftward shift in the supply curve of gasoline?
A) A decrease in the price of gasoline B) An increase in the wage rate of refinery workers C) Decrease in the price of crude oil D) An improvement in oil refining technology E) all of the above