Suppose a wealthy Canadian donates $10 million to charities in Mexico. Mexican net exports ________ and the current account balance ________
A) fall; rises
B) rise; rises
C) are unchanged; is unchanged
D) fall; is unchanged
D
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If there is a change in the U.S. endowment of factors of production, then there would be
A) shifts in just SRAS. B) a movement along the SRAS curve. C) a shift in both LRAS and SRAS. D) a shift in just LRAS.
Deposits in European banks denominated in dollars for the purpose of international transactions are known as
A) Eurodollars. B) European Currency Units. C) European Monetary Units. D) International Monetary Units.
Adam Smith's book The Wealth of Nations was published in
a. 1692. b. 1776. c. 1816. d. 1936.
An isoquant is a curve that represents combinations of:
A. factors of production that cost the same amount. B. factors of production that produce equal amounts of output. C. output that can be produced at the same cost. D. output that can be produced from the same quantity of inputs.