The trade balance includes:
a. Imports and exports of only goods.
b. Imports and exports of goods and services.
c. Net exports of goods and services plus transfers.
d. Net exports of goods and services plus net investment income plus transfers.
e. Changes in a nation's reserve assets.
.A
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Fantastic Cuts Hair Salon knows that a 15% increase in the price of their haircuts will result in a 5% decrease in the number of haircuts sold. What is the elasticity of demand facing Fantastic Cuts?
a. 0.05 b. 0.10 c. 0.33 d. 3.0
In LDCs, persistent poverty occurs because of preference for _______ , which results in ___________
a. large families; low levels of capital goods production b. more consumption today; less consumption tomorrow c. high birth rates; high death rates d. high birth rates; low death rates e. culture; an absence of assimilation
If the price of the dollar changes from 135 Japanese yen to 127 Japanese yen, the dollar has
A. appreciated. B. depreciated. C. stayed the same. D. none of these.
According to the ________ economists, those who are not working have chosen not to work at the market wage.
A. neo-Marxist B. Keynesian C. classical D. modern monetarist