A basic precondition necessary to achieve economic growth is
A) a well-organized work force.
B) well-functioning factories.
C) a strong central government that directs the nation's research and development activities.
D) a well-functioning legal system.
E) well-being of society.
D
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During this year, a country reports imports of $1,000 billion, exports of $1,100 billion, foreign investment in the country of $900 billion, investment abroad of $1,200 billion, net interest and net transfers of zero
What is the country's current account balance?
An import tariff will cause the terms of trade of the ________ country to ________ and will ________ the country
A) importing; improve; benefit B) exporting; improve; benefit C) importing; suffer; harm D) exporting; improve; harm E) importing; improve; harm
The classical model assumes that
A. people have money illusion. B. wages and prices are flexible. C. wages are flexible but prices are not. D. imperfect competition predominates in most markets.
Commodity money is a good
A) used as money that has no secondary use. B) that is designated as money by law. C) used as money that also has value independent of its use as money. D) used as money that has no intrinsic value.