If a French company exports $2 million of machinery to Italy and French tourists spend $2 million at Italian beaches, the French merchandise trade balance ________, and the French financial account balance ________
A) rises; rises
B) rises; is unchanged
C) is unchanged; is unchanged
D) is unchanged; rises
B
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No monetary value can be placed on a human life
Indicate whether the statement is true or false
Suppose the domestic market demand function in a certain market where Q is measured in thousands of units is Qd = 20 - 2.5P, and the domestic market supply function is Qs = 2.5P - 7.5. Suppose further that the world price for the good in question is $3.40 per unit. If the government places a $1.20 tariff on imported units of this good, by how much is consumer surplus reduced?
A. $14,450 B. $5,400 C. $12,000 D. $3,600
When neo-Keynesians looked at 1970s–1980s inflation and unemployment data, they found
a. not a single Phillips curve, but a set of Phillips curves b. a relatively well-behaved downward-sloping Phillips curve c. a vertical Phillips curve, which helped to explain stagflation d. a Phillips curve that was very similar to the Phillips curve of the 1960s e. a Phillips curve that behaved like a Laffer curve
A worker who loses a job at a petroleum refinery because consumers and business firms switch from the use of oil to natural gas is an example of
A. frictional unemployment. B. structural unemployment. C. cyclical unemployment. D. disguised unemployment.