When the prices of final goods and services increase more quickly than the prices of inputs, we say that:
A. the prices of some inputs are sticky.
B. the prices of some final goods are sticky.
C. the economy must be in the long run.
D. the economy is inefficient.
A. the prices of some inputs are sticky.
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According to the human skills theory
A) trade patterns depend upon a country's relative endowment of skilled workers. B) countries with large endowments of skilled labor will have comparative advantage in skilled labor intensive products. C) the Leontief paradox is explained by the fact that the United States is relatively skilled labor abundant. D) All of the above.
Money's principal function is to serve as a
a. standard for making loans. b. standard for credit reporting. c. medium of exchange. d. method for storing wealth.
In the GDP accounts, investment includes the purchase of newly issued shares of stock.
Answer the following statement true (T) or false (F)
Which of the following conditions must be satisfied for the demand for domestic goods to be equal to the domestic demand for goods?
A) X = ?IM B) X = 0 C) G - T = 0 D) S = I E) X = IM/?