The balance between spending flows into a country and spending flows out of that country is called a country's
A. current account.
B. capital account.
C. foreign exchange.
D. balance of payments.
Ans: D. balance of payments.
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What sort of productivity shocks would cause lower real wage growth and result in lower growth in labor productivity?
A) productivity shocks which decrease supply of labor given the demand for labor B) productivity shocks which increase supply of labor given the demand for labor C) productivity shocks which increase demand for labor given the supply of labor D) productivity shocks which decrease demand for labor given the supply of labor
Government re-training programs, such as those that train workers who have lost their jobs due to outdated skills, would best fight the problem of
a. frictional unemployment b. cyclical unemployment c. structural unemployment d. underemployment e. seasonal unemployment
Creative destruction is least beneficial to:
A. workers in the "destroyed" industries. B. workers in the "created" industries. C. consumers. D. society as a whole.
Network externalities
A) can only exist when there are economies of scale. B) prevent the dominance of a market by one firm. C) exist when the usefulness of a product increases with the number of consumers who use it. D) are created when celebrity endorsements of products lead to a surge in the demand for those products.