A citizen of Mexico who has lived in El Paso during the past three years has just sent $100 to relatives in Mexico for Christmas. This transaction is
A) counted in the U.S. balance of payments as a current account item.
B) counted in the U.S. balance of payments as a surplus item.
C) counted in the U.S. balance of payments as an export item.
D) none of the above.
A
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If wages drop below the market equilibrium level in a competitive labor market:
A. firms will demand more labor than workers are willing to supply. B. firms will have to offer higher wages to attract the workers they need. C. there won't be enough workers willing to work at that wage. D. All of these statements are true.
Who benefits when the exchange rate of Japanese yen per dollar increases?
a. Japanese exporters b. Japanese tourists c. Japanese importers d. American exporters e. Japanese students in the U.S. whose source of income is money sent to them from Japan.
When we are calculating the consumer price index and the inflation rate for a certain year,
a. the value of the consumer price index may depend on the choice of a base year, but the inflation rate does not depend on the choice of a base year. b. the inflation rate may depend on the choice of a base year, but the value of the consumer price index does not depend on the choice of a base year. c. both the value of the consumer price index and the inflation rate may depend on the choice of a base year. d. neither the value of the consumer price index nor the inflation rate depends on the choice of a base year.
An increase in labor productivity shifts the
A) AD curve rightward. B) AD curve leftward. C) short-run aggregate supply (SRAS) curve leftward. D) SRAS curve rightward. E) none of the above