New England shippers faced higher labor costs than English shippers
a. in trade between the Southern colonies and England.
b. in trade between the West Indies and England.
c. in trade between New England and England.
d. in all trade with England.
a. in trade between the Southern colonies and England.
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The rapid growth of the Chinese economy should
A) benefit U.S. consumers as they have access to less-expensive consumer goods. B) make it more difficult for citizens of the United States to find jobs. C) not affect the mix of jobs available to citizens of the United States. D) A and B
Suppose a perfectly competitive firm's production function is q = L0.2K0.6 and it takes the wage and price as given. Then the firm's long-run demand for labor as a function of K, w, and p is
A) p5((0.2/w)2(0.6/r)3). B) p5((0.2/w)4(0.6/r)5). C) p5((0.2/w)5(0.6/r)4). D) p5((0.2/w)3(0.6/r)2).
Suppose the federal government had budget surpluses of $80 billion in year 1 and $120 billion in year 2 but had budget deficits of $10 billion in year 3 and $40 billion in year 4. Also assume that it used its budget surpluses to pay down the public debt. At the end of these four years, the federal government's public debt would have
A. increased by $50 billion. B. decreased by $200 billion. C. increased by $150 billion. D. decreased by $150 billion.
Unit root processes, such as a random walk (with or without drift), are said to be:?
A. ?integrated of order one. B. ?integrated of order two. C. ?sequentially exogenous. D. ?asymptotically uncorrelated.