The best weather in a decade has given Australia a bumper wheat crop. Australia is a small open economy. Based on this information alone, you would expect that
A. the current account would decrease.
B. the current account would increase.
C. desired investment would increase.
D. desired investment would decrease.
Answer: B
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A decrease in personal taxes would shift the aggregate demand curve rightward
Indicate whether the statement is true or false
Escalators present in a contract must state:
a. at what interval the contract price should automatically change at a fixed rate. b. when the price will change and by what formula the new price will be calculated. c. when the contract should be terminated and how the cost of termination should be shared. d. when the contract should be renewed and the terms governing the renewal.
For a firm producing in a perfectly competitive product market, the marginal revenue product of labor eventually
a. falls due to diminishing marginal returns to labor b. rises due to diminishing marginal returns to labor c. falls due to a falling product price d. falls due to a rising product price e. rises due to falling marginal productivity of labor
If the United States has reason to believe that the trade policies of another country violate the GATT, then to which organization do they send their complaint?
A. the World Trade Organization (WTO) B. the International Monetary Fund (IMF) C. the United Nations (UN) D. the World Bank (WB)