At first marginal product rises and then it falls
Indicate whether the statement is true or false
True
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If U.S. imports increase, the sum of the balance of payments accounts (the sum of the current account plus capital and financial account plus official settlements account)
A) becomes negative. B) becomes positive. C) becomes negative or positive depending on the government budget deficit or surplus. D) does not change.
In a debate on the state of the economy Senator X pointed out that the unemployment rates for teenagers, blacks, and hispanics had increased over the last year, while Senator Y stated that the unemployment rate in the United States was at its lowest level in more than 30 years. In this example, aggregate data is being used by:
A. both senators. B. Senator X. C. neither senators. D. Senator Y.
Homer buys pizza for $10 and Pepsi for $2. He has income of $100. His budget constraint will shift inward if
a. his income rises to $150. b. the price of pizza, the price of Pepsi, and his income all rise by 50 percent. c. the price of Pepsi falls to $1. d. the price of pizza rises to $12.
If the opportunity cost of corn to wheat is 3:1 in the United States and 5:1 in France, only the United States would benefit from trade if the actual terms of trade between corn and wheat were 2:1.
Answer the following statement true (T) or false (F)