The U.S. was the world's leading net creditor nation until
A. 1971.
B. 1973.
C. 1982.
D. 1990.
C. 1982.
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Related to the Economics in Practice on page 214: According to the Economics in Practice, firms where managers had more extensive training experienced
A. a decrease in the marginal product of labor. B. increased productivity. C. increasing wage rates. D. a decrease in the marginal revenue product of labor.
If the public correctly perceives that the central bank will reduce inflation, then
A. the short-run Phillips curve shifts right, and the sacrifice ratio will be lower. D. the short-run Phillips curve shifts left, and the sacrifice ratio will be higher. C. the short-run Phillips curve shifts right, and the sacrifice ratio will be higher. D. the short-run Phillips curve shifts left, and the sacrifice ratio will be lower.
People tend to spend more money the ______ the amount of credit available and the ____ the stock of liquid assets in the hands of consumers.
A. higher; higher B. lower; lower C. higher; lower D. lower; higher
The current account balance is equal to
A. Trade balance + services balance + capital account balance. B. Total payments made by residents of the United States to foreigners plus total payments made by foreigners to residents of the United States. C. Trade balance + unilateral transfers + net investment income. D. Trade balance + services balance - capital account balance.