If the price level in the United States rises less than the increases in the price levels of other countries, exports of U.S.-made goods will increase
Indicate whether the statement is true or false
T
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If a U.S. company imports 10 Toyotas from Japan at $15,000 each, and the Japanese company buys airline tickets on a U.S. airline with the money, how does this affect the U.S. balance of payments accounts?
A) Decline in merchandise trade; increase in financial account B) Decline in financial account; increase in merchandise trade C) Decline in merchandise trade; increase in services D) Decline in services; increase in merchandise trade
In the non-strategic sequential labor negotiation game:
a. The ability to commit to a strategy gives you an advantage b. The ability to commit to a strategy gives your opponent an advantage c. The ability to commit to a strategy is irrelevant d. Players should simply not commit to a strategy to obtain an advantage
Accounting profits are calculated as:
A. total revenue minus explicit costs. B. total revenue minus all opportunity costs, explicit and implicit. C. total revenue minus implicit costs. D. None of these is true.
Jerome has a "C" average in his philosophy course and a "B" average in his economics course. He decides to study an extra hour for his philosophy exam. This is an example of:
A. thinking at the margin. B. using assumptions to simplify. C. ceteris paribus. D. caveat emptor.