The United States has run large trade deficits with most of the world since the early
a. 1940s
b. 1960s
c. 1970s
d. 1980s
e. 1990s
D
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The demand for loanable funds curve illustrates
A) the quantity of loanable funds demanded at any given level of disposable income. B) how the quantity of loanable funds demanded changes when the people's expectations about their future income changes. C) how the quantity of loanable funds demanded changes when wealth changes. D) the quantity of loanable funds demanded at any given level of the real interest rate. E) the quantity of loanable funds supplied to the loanable funds market at any given level of disposable income.
Which of the following will NOT increase the productivity of labor?
A. technological improvements B. an increase in the capital stock C. improvements in education D. an increase in the size of the labor force
In a commercial bank's T-account, reserves and outstanding loans are recorded as:
A. debts. B. profits. C. assets. D. liabilities.
A nation has a comparative advantage in producing a good, if
A. more people in the country are employed in the production of the good than in other countries. B. it has either a greater productivity advantage or a smaller productivity disadvantage. C. it has a higher standard of living than its trading partners. D. it also has an absolute advantage in producing the good.