Cyclical unemployment occurs:
A. because the government labels some people who aren't really in the labor force as unemployed.
B. with economic fluctuations; it increases during bad times and decreases during good times.
C. naturally during the normal workings of an economy, as people change jobs, move across the country, etc.
D. because of a mismatch between the jobs that are available in the economy and the skills of workers seeking jobs.
Answer: B
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An increase in U.S. prices relative to Japanese prices will
A) decrease both U.S. exports and imports. B) increase total planned spending on U.S. goods and services. C) increase U.S. imports and decrease U.S. exports. D) decrease U.S. imports and increase U.S. exports.
The change in U.S. official reserves is equal to
A) borrowing from abroad plus the current account deficit. B) the current account balance plus the capital and financial account balance. C) the current account balance minus the capital and financial account balance. D) foreign investment in the United States minus U.S. investment abroad.
A firm is more likely to engage in horizontal foreign direct investment if
A) trade costs are high and there are internal economies of scale. B) trade costs are low and there are internal economies of scale. C) trade costs are high and there are external economies of scale. D) trade costs are low and there are external economies of scale. E) trade costs are low and firms experience constant returns to scale in production.
In spite of having no natural resources, a country like _____ was able to make itself one of the wealthiest countries in the world because it allowed private ownership
a. India b. Poland c. Hungary d. Hong Kong e. China