If there is an increase in taxes on business firms in a small open economy, it causes the current account to ________ and the equilibrium quantity of saving to ________
A) fall; fall
B) rise; remain unchanged
C) fall; remain unchanged
D) rise; fall
B
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In 1870, the wealthiest fifth of the Southern population:
a. owned about 25 percent of the land. b. had lost most of their land through post-War land reforms. c. owned about the same portion of the land as they had owned before the War. d. generally chose to reduce their investments in land and increase their investments in other assets.
"Equilibrium" is a situation in which there are no inherent forces to produce change
a. True b. False Indicate whether the statement is true or false
One of the benefits of the Hay System is that it can be used to
A. assign a task to each employee on the basis of seniority. B. determine the level of compensating wage differentials in risky jobs. C. determine the optimal mix of salary and fringe benefits. D. assign a position to each job within a firm's hierarchy.
Which of the following is a characteristic of a monopolistically competitive market?I.Firms sell differentiated products.II.Each firm earns a positive economic profit in the long run.III.Firms freely enter and exit the market.
A. II only B. I and II only C. I and III only D. I, II, and III