The portion of net exports determined by income in foreign countries is
A) induced net exports.
B) autonomous net exports.
C) total net exports.
D) always equal to zero.
B
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Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) After immigration occurs, total business income in country B:
A. Increases by $475M
B. Increases by $50M
C. Decreases by $50M
D. Decreases by $475M
The theory of PPP suggests that if one country's price level falls relative to another's, its currency should
A) depreciate. B) appreciate. C) float. D) do none of the above.
If in a market the last unit of output was sold at a price higher than marginal cost
A) producer is better off producing more. B) consumers are better off if less of the product is sold. C) social welfare is not maximized. D) the unit increased total profit.
Unemployed U.S. residents who are, in effect, merely searching for work between jobs, are defined as
A) frictionally unemployed. B) structurally unemployed. C) cyclically unemployed. D) seasonally unemployed.