A trade deficit occurs when:
A. quotas exceed tariffs.
B. exports exceed imports.
C. tariffs exceed quotas.
D. imports exceed exports.
Answer: D
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Many people assume that if child workers in developing countries weren't working in factories, they would be in school. In fact, children in developing countries
A) split their time evenly between work and school. B) usually have few good alternatives to work. C) are only allowed to work if they have attended school up to age 15. D) who work are relatively rare, as most do attend school full time.
When the U.S. capital and financial account shows a positive balance, that is an indication of
A) the United States acquiring more foreign reserves. B) the value of U.S. exports of capital goods exceeding the value of U.S. imports of capital goods. C) foreigners investing more in the United States than the United States is investing abroad. D) U.S. industries becoming more competitive. E) the value of all U.S. exports exceeding the value of all U.S. imports.
In the general textbook treatment, the firm's short run average variable and average total cost curves are U-shaped, while the average fixed cost curve is downward sloping over the entire range of output. Explain why
What will be an ideal response?
A speculator in foreign exchange is a person who
a. buys foreign currency, hoping to profit by selling it at a higher exchange rate at some later date b. earns illegal profit by manipulating foreign exchange c. causes differences in exchange rates in different geographic markets d. simultaneously buys large amounts of a currency in one market and sells it in another market e. takes no risks in foreign currency exchanges