Which two time periods did the U.S. begin to experience a sharp increase in Current Account deficits?
A) 1981, mid-1990s
B) 1971, mid-1990s
C) 1961, mid-1990s
D) 1971, mid-1980s
E) 1985, mid-1990s
A
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If the Fed were to raise the required reserve ratio,
A) excess reserves would decrease. B) excess reserves would increase. C) there would be no effect on the level of excess reserves. D) there would tend to be no effect on the nation's money supply.
Budget cuts which lead to more lax protection of our borders will affect the labor market in California. It will cause a(n) ___________ in labor supply, resulting in __________.
A. decrease; higher wages B. increase; higher wages C. increase; lower wages D. decrease; lower wages
Which of the following is the best example of a command-and-control regulation?
a. Effluent taxes on pollutants. b. Emissions trading. c. Requiring automobiles to have catalytic converters. d. Offset programs.
The monopolist's cost curves differ from those of a perfectly competitive firm in that the:
A. average variable cost in no longer equal to marginal cost. B. The cost curves are the same for a firm regardless of market structure. C. marginal cost curve is downward sloping instead of flat. D. average total cost curve is not necessarily minimized where it crosses marginal cost.