If a country had a trade deficit of $10 billion and then its exports rose by $20 billion and its imports rose by $10 billion, its net exports would now be
a. $0
b. $10 billion.
c. -$10 billion.
d. -$20 billion.
a
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In periods of inflation, wages generally increase to compensate for higher prices
Indicate whether the statement is true or false
Brinley Thomas' (1954) thesis explains
(a) fluctuations in immigration. (b) fluctuations in European domestic investment. (c) fluctuations in European foreign investment. (d) all of the above.
If the price of good A increases from $15 to $20 per unit and quantity demanded falls from 150 to 100 units, then by using the method of average values, we can calculate the absolute price elasticity of demand to be
A) 2.6. B) 0.75. C) 1.4. D) 2.4.
In 2010 the federal government reduced the Social Security tax withholding rate from 12.4 percent (6.2 percent on both the employer and employee) to 8.4 percent (4.2 percent on both the employer and employee) on the wages of all workers. If the tax were redefined such that the entire 12.4 percent was statutorily levied on employers, economic analysis suggests that the actual burden of the tax
would a. remain unchanged. b. shift more heavily toward employers. c. shift more heavily toward employees. d. be different than if the entire 12.4 percent was statutorily imposed on employees.