What matters to people is the real value of money or income.
Answer the following statement true (T) or false (F)
True
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Jack exported a rare painting illegally. This transaction will:
A) cause the GDP of his country to increase. B) not affect the calculation of his country's GDP. C) cause the GDP of the country he has exported it to increase. D) cause the GDP of his country to decrease.
The figure above shows the labor market in a region. For a minimum wage to change the wage rate and amount of employment, it must be
A) left to the forces of supply and demand. B) set above $6 an hour. C) set equal to $6 an hour. D) set below $6 an hour. E) set at $12 per hour.
Positive technological change in the production of LCD televisions caused the price of LCD televisions to fall. Holding everything else constant, how would this affect the market for Blu-ray players (a complement to LCD televisions)?
A) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease. B) The demand for Blu-ray players would decrease because consumers could afford to buy fewer LCD televisions and Blu-ray players. C) The demand for Blu-ray players would increase and the equilibrium price of Blu-ray players would increase. D) The supply of Blu-ray players would increase and the equilibrium price of Blu-ray players would decrease.
Last year country A's residents purchased $700 billion of goods and services from and sold $500 billion of goods and services to residents of foreign countries. Its domestic investment was $1,100 . What was country A's saving? Show your work