Which of the following is not a characteristic of most less-developed countries?
a. Inadequate human capital.
b. Inadequate capital goods.
c. High population growth rate.
d. Inadequate water supplies.
e. High productivity.
e
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Most economists think changes in which type of unemployment affects inflation?
A) frictional unemployment B) cyclical unemployment C) structural unemployment D) natural rate of unemployment
When a country has a current account deficit, the country
A) is borrowing from abroad. B) is lending abroad. C) must have a government budget surplus. D) must have a government budget deficit.
The balance of trade is the value of a nation's ____________
a. goods and service exports times goods and service imports b. goods exports subtracted from goods imports c. goods imports subtracted from goods exports d. net goods imports plus net capital inflows
Determining the optimal choice of input combinations generally does not involve
a. substitution of one input for another. b. fixing the level of technology in the long run. c. minimizing cost, given the prices of inputs. d. assessing the productivity of various inputs.