Which of the following is not a result of a reduction in the federal budget deficit?
A) a lower real interest rate
B) an appreciation of the currency
C) a rise in exports
D) a fall in the price of foreign inputs
B
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Opening trade between a nation that has "cheap labor" and one that has "expensive labor" will
a. lower the standard of living in both countries. b. raise the standard of living in both countries. c. make some workers less efficient. d. lead to an inappropriate allocation of resources.
Korie wants to start her own business making custom furniture. She can purchase a factory that costs $400,000 . Korie currently has $500,000 in the bank earning 3 percent interest per year. If Korie purchases the factory with her own money, what is the annual implicit opportunity cost of purchasing the factory?
a. $0 b. $3,000 c. $12,000 d. $15,000
The reason U.S. workers were better paid than foreign workers during the 1950s and 1960s is
A. U.S. workers were better trained and educated. B. U.S. workers worked harder. C. we had more capital (plant and equipment) per worker. D. the U.S. dollar was the world's strongest currency.
Refer to the above table (figures in billions). The nominal GDP for 2020 is
A. $4819.6 billion. B. $4091.3 billion. C. $5677.5 billion. D. uncertain without more information.