If Wes in Wisconsin buys $200 worth of stock in Toshiba, and the Japanese use the $200 to buy a wheel of cheese from Wes, then the U.S. net exports:
A. and net capital outflow are both zero.
B. equals $200 and net capital outflow is zero.
C. and net capital outflow both equal $200.
D. is zero and net capital outflow is $200.
Answer: C
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Two economists can agree that raising the minimum wage creates unemployment yet one might argue that raising the minimum wage is a good policy and the other that it is a bad policy
Why can this difference exist? Be sure to use the terms positive and normative in your answer.
Structural unemployment results from
A. changes in business inventories. B. changes in interest rates. C. changes in both technology and the changing demand for products. D. all of the choices/statements are true.
Figure 18.2Refer to Figure 18.2. After trade and specialization begin, the maximum amount of spears that Macadamia can consume is:
A. 40. B. 100. C. 120. D. 160.
Which of the following represents non-human wealth?
A) total wealth minus housing wealth B) total wealth minus financial wealth C) wealth that cannot be taken from a person, by law D) financial wealth minus housing wealth E) none of the above