Suppose this year Angola borrows $100 million from foreign countries, while it lends $15 million to other countries. Angola definitely is a
A) net borrower.
B) net lender.
C) creditor nation.
D) debtor nation.
A
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In the classical model,
A) unemployment will never exist since workers will be willing to accept lower wages and will then be able to find work. B) unemployment will never exist because employers will be willing to pay the wage rate demanded by the workers. C) wages will go up but never go down. D) full employment will never be reached.
A model that shows how dollars flow through markets among households and firms is called the
a. production possibilities frontier. b. circular-flow diagram. c. demand and supply diagram. d. comparative advantage model.
The Sherman Antitrust Act was enforced in 1906 by a ruling of the Supreme Court regarding the monopolization of the oil industry by
A) Getty Oil of Oklahoma.
B) Texaco Oil of Texas.
C) Gulf Oil of Pennsylvania.
D) Standard Oil of New Jersey.
The decade that had the most stagflation was the
A. 1940s. B. 1950s. C. 1960s. D. 1970s.