A country with a current account surplus:
A. has exported more than it has imported.
B. has imported more than it has exported.
C. also has a capital account surplus.
D. as borrowed heavily from the rest of the world.
Answer: A
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Over the past year, an economy's labor supply increased from 100 to 102, its capital stock increased from 1000 to 1030, and its output increased from 500 to 525. All measurements are in real terms
Calculate the contributions to economic growth of growth in capital, labor, and productivity if aK = 0.2 and aN = 0.8.
If the wage is below the marginal revenue product, then a profit-maximizing firm will
a. employ more workers b. employ fewer workers c. see an increase in its demand for labor d. see an increase in its supply of labor e. see a fall in its demand for labor
Economies with high growth rates tend to be those that have:
A. large amounts of natural resources. B. a stable government that protects property rights. C. high levels of government regulation. D. a large defense budget.
Which of the following will cause the aggregate demand curve to shift to the left?
A. An increase in national incomes abroad. B. An increase in the price level. C. A decrease in the price level. D. An appreciation in the value of the U.S. dollar.