Which of the following is true? i) A rational choice is made on the margin. ii) Microeconomics is the study of the national economy while macroeconomics is the study of the global economy. iii) Economists try to understand how the economic world works by testing normative statements.
A. Only ii
B. i and ii
C. Only iii
D. i and iii
E. Only i
Ans: E. Only i
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Suppose that initially there is no public debt. Using the above table, the public debt over this four year period would have
A) increased by $215. B) decreased by $100. C) increased by $1,375. D) decreased by $1,590.
When all workers in the garment industry organized together, this was
a. illegal b. a goal of the AFL c. not helpful to less-skilled workers d. a craft union e. an industrial union
In 2008, $1.00 U.S. bought 8.24 Chinese Yuan and in 2010, it bought 6.64 Chinese Yuan. Therefore, 1.00 Chinese Yuan was worth _____ U.S. in 2008 and _____ U.S. in 2010
a. $0.12; $0.15 b. $1.20; $1.5 c. $0.82; $0.66 d. $0.15; $1.1
Which of the following is not included in the current account of a nation's balance of payments?
A) Its goods exports. B) Its goods imports. C) Its net investment income. D) Its purchases of real assets abroad.