A "trade deficit" occurs when
A) we sell more to one country than another.
B) we sell more to other countries than we buy from them.
C) we buy more from other countries than we sell to them.
D) we sell less to one country than another.
C
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In the above figure, at the real wage rate of $50
A) there is a surplus of 100 billion hours per year. B) there is a shortage of 100 billion hours per year. C) there is a surplus of 60 billion hours per year. D) there is shortage of 20 billion hours per year.
If a country has a capital and financial account deficit, that country's stock of international indebtedness is
A) increasing. B) decreasing. C) constant. D) zero.
The price of borrowing is known as the:
A. equilibrium price. B. interest rate. C. transaction cost. D. None of these is true.
During the early years of the US industrial revolution, the US welcomed immigrants from abroad. How would immigration affect the production possibilities frontier?
a. turns a linear PPF into a convex PPF b. turns a convex PPF into a linear PPF c. no impact d. shift it in e. shift it out