A Turkish company exchanges liras for dollars and then uses the dollars to purchase medical equipment from a U.S. company. These transactions
a. increase U.S. net exports, and increase Turkish net capital outflow.
b. increase U.S. net exports, and decrease Turkish net capital outflow.
c. decrease U.S. net exports, and increase Turkish net capital outflow.
d. decrease U.S. net exports, and decrease Turkish net capital outflow.
b
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Refer to Table 9-12. If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded, how many belts will Morocco consume?
A) 60 B) 70 C) 90 D) 120
The labor market is in equilibrium when:
a. the demand curve lies above the supply curve. b. both demand and supply curves are positively sloped. c. both demand and supply curves are negatively sloped. d. the demand curve intersects the supply curve. e. the demand curve is negatively sloped but the supply curve is positively sloped.
Which of the following is correct?
a. Nearly all economists believe that unions are bad for the economy as a whole. b. Unionized firms pay wages above the competitive equilibrium level. c. Unions increase the level of employment in unionized firms. d. Unions decrease the level of employment in firms without unions.
Relative price is the price of a specific good compared to ______.
a. the price index b. the rate of inflation c. the price of that good one year earlier d. the price of other goods