Which of the following categories of business cycle theories includes the theory of “real business cycles”?
a. physical
b. monetary
c. psychological
d. spending and saving
c. psychological
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In a small country, the adult population equals 5,000. There are 4,000 people in the labor force and 3,000 people are employed. The labor force participation rate equals
A) 25 percent. B) 80 percent. C) 30 percent. D) an undetermined amount given the lack of information.
The value of exports minus the value of imports is called the:
A. trade value. B. net budget balance. C. balance of trade. D. net trade value.
Common resources and public goods have in common that they are not excludable and they are not rival in consumption
a. True b. False Indicate whether the statement is true or false
The basis for international trade is ______________ and ______________.
Fill in the blank(s) with the appropriate word(s).