Which of the following are balance of payments accounts?
i. capital and financial account
ii. tariff account
iii. current account
A) i only B) ii only C) iii only D) i and iii E) ii and iii
D
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Which of the following is an example of marginal analysis?
a. a fast food restaurant that only serves lunch and dinner trying to determine if it should open for breakfast. b. a company looking at its total costs of production. c. a worker calculating his total income. d. an economist analyzing total output for the U.S. economy.
A union can be viewed as a monopoly seller of a service. What are the three wage and employment strategies the union might use?
What will be an ideal response?
If workers in an industry become less productive, we would expect the
A. demand for workers to increase. B. supply of workers to decrease. C. demand for workers to decrease. D. supply of workers to increase.
An unemployment insurance program has which of the following effects?
A) It decreases the amount of personal income of the unemployed. B) It increases the severity of a recession because it makes it more difficult for the unemployed to find jobs. C) It increases the amount of time spent searching for a job. D) It lowers the overall unemployment rate.