U.S. imports provide the means by which ______.
a. foreigners can buy U.S. exports
b. Americans can invest in foreign stock exchanges
c. foreigners receive unilateral transfers
d. Americans calculate the statistical discrepancy
a. foreigners can buy U.S. exports
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An increase in the price of labor will, in the short-run, cause a competitive firm's
a. marginal cost to increase, the quantity it sells to decrease and therefore reduce the quantity demand of labor. b. price of its output to increase, leaving demand for labor unchanged. c. marginal revenue product of labor to decrease and therefore reduce demand for labor. d. marginal revenue product of labor to increase and therefore increase demand for labor.
When a bank receives deposits,
A) it must hold the entire amount as reserves in case of withdrawal. B) the Fed requires it to hold only a small percentage as reserves. C) it and it alone decides how much it will hold as reserves. D) its liabilities increase in amount but its assets do not change. E) its assets increase in amount but its liabilities do not change.
An experiment refers to:
A) a simplified representation of some real life phenomenon. B) the process of collecting, measuring, and organizing data. C) validating the claims of a model using statistics and facts. D) a controlled method of investigating causal relationships among variables.
The indifference curves in the above figure could represent your indifference curves between
A) Coke and Pepsi, which you consider perfect substitutes. B) eyeglass frames and eyeglass lenses, which you think are perfect complements. C) hot dogs and textbooks, which you think are neither perfect substitutes nor perfect complements. D) none of the above.