A country is said to be in balance of payments equilibrium, when the sum of its current and its
A) non-reserved capital accounts equals zero.
B) reserved capital accounts equals zero.
C) non-reserved capital accounts equals to the surplus in the capital account.
D) non-reserved capital accounts equals to the deficit in the capital account.
E) non-reserved capital accounts is higher than the total capital account balance.
A
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The labor force is the sum of the working-age population and the number of unemployed people
Indicate whether the statement is true or false
Suppose a firm finds it is better off operating than shutting down in the short run. What is true at the quantity at which marginal cost equals marginal revenue?
a. total cost equals total revenue b. average cost equals average revenue c. profit is maximized d. revenue is maximized e. cost is minimized
The international trade agreement that was executed in the 1940s was
a. the NAFTA b. the U.S.–Mexico Border 2012 Agreement c. the London Convention d. the 1996 Protocol e. the GATT
Voluntary export restraints (VER):
A. have the same effect as an import ban. B. are illegal under the international trading rules. C. violate the spirit of international trade agreements. D. All of these