Suppose there are two countries that are identical with the following exception. The saving rate in country A is greater than the saving rate in country B. Given this information, we know that in the long run
A) output per capita will be greater in B than in A.
B) output per capita will be greater in A than in B.
C) economic growth will be higher in A than in B.
D) more information is needed to answer this question.
B
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In the figure above, if the minimum wage is $8 per hour, then
A) resources used in job-search activity increase compared to the situation before the minimum wage. B) it is legal to hire workers for a wage below the minimum wage because otherwise unemployment would result. C) the deadweight loss is minimized. D) Both answers A and B are correct. E) Both answers B and C are correct.
The burden of a tax falls entirely on sellers if ________
A) the price elasticity of demand is unitary elastic B) the price elasticity of supply is greater than 1 C) the income elasticity of demand is high D) the price elasticity of supply is zero (perfectly inelastic)
Historical actions indicate that the Fed's primary goal of monetary policy over the past 30 years has been to
A) maintain high interest rates. B) keep employment rates low. C) limit the availability of consumer credit. D) prevent high rates of inflation.
The exporting trade in the United States has had a significant impact on the U.S. economy. In 2016, exports accounted for 11 million jobs—an increase of 3.3 million jobs since the 2009 recession. Which of the following is true about the impact of U.S. exports on the global economy?
a. During the time period from 2009-2016, exports have decreased in importance for the US. economy. b. China and Mexico are our best partners for our exports. c. The increase in trade volume over the past 65 years has been one of the most important factors in the rise of the living standards around the world d Globalization represents a huge opportunity for wealthy nations but while it may creat