Specialization in production
A. Makes a country weak.
B. Reduces the standard of living.
C. Increases output.
D. Decreases total world output.
Answer: C
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If net exports are equal to net foreign investment, which of the following is not true?
A) The balance on the financial account is zero. B) The current account balance is equal to the negative of the financial account balance. C) Net capital inflows are equal to imports minus exports. D) The balance of payments is zero.
A legal ceiling set below the market-clearing interest rate would tend to
A) create a surplus of loans. B) create a shortage of loans. C) increase the demand for loans. D) decrease the supply of loans. E) do none of the above.
It has been shown that when offered higher wages, women will work more hours. This is because
a. women tend to work more hours than men at any wage rate. b. the substitution effect is more dominant for women. c. the income effect is more dominant for women. d. women are more productive than men at higher wages.
For the recession of 2007-2009, it took ________ for real GDP to return to its cyclical peak
A) about 18 months B) about 2 year C) about 3.5 years D) almost 5 years