We have run trade deficits every year since ________.
Fill in the blank(s) with the appropriate word(s).
1976
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Which of the following is an example of a surplus item on the balance of payments?
A. purchases of gold from foreign residents B. interest receipts from foreign residents C. private gifts to foreign residents D. public gifts to foreign residents
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
A firm's inventory piled up during a recession. How will its labor demand be affected when its excess inventory gets sold off eventually?
What will be an ideal response?
An individual’s supply curve is backward bending when wages rise above a certain point.
Answer the following statement true (T) or false (F)