Which of the following is TRUE about the labor force?
A) It includes those over 16 ages old and are employed.
B) It includes those over 16 ages old and are unemployed.
C) Both A and B are correct.
D) None of the above is correct.
C
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In an open economy, why is the supply curve for dollars in the foreign-currency exchange market vertical?
A. Net capital outflow is determined by real GDP, not the real exchange rate. B. Net capital outflow is extremely sensitive to small changes in the real exchange rate. C. Net capital outflow is determined by the real interest rate, not the real exchange rate. D. Net capital outflow equals net exports.
L. Frank Baum's classic 1900 children's book, The Wonderful Wizard of Oz, is
A) an allegorical rendition of the U.S. political struggle over silver. B) an allegorical rendition of the U.S. political struggle over copper. C) an allegorical rendition of the U.S. political struggle over both silver and gold. D) an allegorical rendition of the U.S. political struggle over indebted farmers. E) an allegorical rendition of the U.S. political struggle over gold.
The aggregate demand curve shifts to the left when there is ________
A) autonomous tightening of monetary policy B) an increase in the nominal interest rate C) an increase in inflation D) all of the above E) none of the above
Current account transactions are payments and gifts that are related to the purchase or sale of
A) financial instruments only. B) both goods and services. C) goods only. D) services only.