Which statement is true?
A. Our merchandise trade deficit and our overall trade deficit are identical.
B. Our merchandise trade deficit is greater than our overall trade deficit.
C. Our overall trade deficit is greater than our merchandise trade deficit.
D. None of these statements are true.
B. Our merchandise trade deficit is greater than our overall trade deficit.
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Which one of the following statements about growth theories is CORRECT?
A) In the new growth theory, knowledge is not subject to diminishing returns. B) In neoclassical growth theory, technological progress is the result of rapid increases in saving and investment in capital per person. C) In classical growth theory, real GDP per person is unrelated to the subsistence real GDP. D) In classical growth theory physical resources are unlimited.
Employees at the hospital have negotiated a 3 percent increase in wages for the next year, based on their inflation expectations. If inflation is actually 5 percent over the next year, which of the following will occur?
A) Real wages for hospital employees will fall. B) The increase in inflation is expected. C) Inflation will be 3 percent the following year. D) Unemployment of hospital employees will rise.
When net capital outflows are negative,
A) capital inflows are greater than capital outflows. B) net factor payments must be positive. C) the current account must be negative. D) foreign direct investment must be greater than foreign portfolio investment.
Max has allocated $100 toward meats for his barbecue. His budget line and an indifference map are shown in the above figure. If the price of burger increases,
A) Max will buy less burger and more chicken. B) Max will buy less burger and the same quantity of chicken. C) Max will buy less of both meats. D) More information is needed to answer the question.