In a December 2007 New York Times column, Paul Krugman noted that
a. it is difficult to find instances of trade between high-wage countries in the modern era.
b. it is difficult to find instances of trade between high-wage countries and low-wage countries in the modern era.
c. the United States now imports more oil and other raw materials from other advanced countries than from the third world.
d. the United States now imports more manufactured goods from the third world than from other advanced countries.
d
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If net capital flows were -28 billion and domestic investment was 17 billion, then the amount of domestic savings was
A) -11 billion. B) 45 billion. C) 11 billion. D) -9 billion.
According to the table shown, when 1 unit is produced:
This table shows the total costs for various levels of output for a firm operating in a perfectly competitive market.
A. marginal costs exceed marginal revenue, and the firm should produce more.
B. marginal revenue exceeds marginal costs, and the firm should produce more.
C. marginal revenue exceeds marginal costs, and the firm should produce less.
D. marginal costs exceed marginal revenue, and the firm should produce less.
If expectations are rational, the difference between the actual rate of inflation and the expected rate of inflation will be zero
a. True b. False Indicate whether the statement is true or false
Under adaptive expectations theory, people expect the rate of inflation this year to be