In a country like Saudi Arabia, which earns substantial income from holding the stocks and bonds of other countries, we would expect
A) GNP to be larger than GDP.
B) a current account deficit.
C) a current account surplus larger than GNP.
D) a current account surplus larger than GDP.
E) GDP to be larger than GNP.
A
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Refer to Table 9-15. Looking at the table above, real average hourly earnings in 2014 were
A) $9. B) $9.52. C) $10. D) $12.63.
A hypothesis is
a. an assumption about behavior b. a prediction of what will occur given certain assumptions c. a prediction of what will occur regardless of assumptions d. a forecast of future events e. useful only if the assumptions are realistic
If we observe that when a consumer's income rises by 10%, the quantity demanded of chocolate candy bars increases by 15%, then chocolate candy bars are are a normal good for that consumer
a. True b. False Indicate whether the statement is true or false
The "natural" rate of unemployment is the unemployment rate toward which the economy gravitates in the
a. short run, and the natural rate is the socially optimal rate of unemployment. b. long run, and the natural rate is the socially optimal rate of unemployment. c. short run, and the natural rate is not necessarily the socially optimal rate of unemployment. d. long run, and the natural rate is not necessarily the socially optimal rate of unemployment.