An downward shift in a worker’s budget line is a result of
a. an increase in the wage rate.
b. a decrease in the wage rate
c. an increase in nonlabor income.
d. a decrease in nonlabor income.
d. a decrease in nonlabor income.
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If the official settlements account is zero, whenever the United States has a current account deficit, it must also have a capital account deficit
Indicate whether the statement is true or false
Assume a simplified banking system subject to a 10 percent required reserve ratio. If there is an initial increase in excess reserves of $90,000 and all possible loans are made, the money supply:
a. increases $90,000. b. increases $900,000. c. increases $990,000. d. decreases $90,000.
Figure 17-10
Refer to . With the tariff, the quantity of saddles imported is
a.
Q3 - Q1.
b.
Q3 - Q2.
c.
Q4 - Q1.
d.
Q4 - Q2.
Explain how automatic stabilizers work.
What will be an ideal response?