If for a country, the quantity of its currency demanded exceeds the quantity supplied, then there is a:
A. balance of payments surplus
B. balance of payments deficit
C. balance of payments equilibrium
D. trade balance
Answer: A. balance of payments surplus
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Describe the pattern of growth rates in real GDP per hour worked in the United States since the early nineteenth century. Has output per hour worked consistently increased at the same rate? Explain
What will be an ideal response?
The U.S. economy experienced deflation right after World War I and World War II
a. True b. False Indicate whether the statement is true or false
Which of the following does not describe a perfectly discriminating monopsonist?
A. The firm's marginal cost of labor equals the labor supply curve faced by the firm. B. The firm hires workers to the point where the labor supply curve intersects the firm's labor demand curve. C. The firm uses fewer hours of labor than it would if it were in a competitive market. D. The firm hires different workers at different wages. E. The wage-labor outcome is efficient.
In the United States, all money is essentially the debt of government, commercial banks, and thrift institutions.
Answer the following statement true (T) or false (F)