Goods produced by people in one country that are sold in other countries are called
a. tariffs
b. surplus
c. exports
d. services
e. imports
C
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Refer to Figure 22-1. Technological change is illustrated in the per-worker production function in the figure above by a movement from
A) A to B. B) B to A. C) D to C. D) B to C.
In the circular flow model, firms purchase in the
a. money market and sell in the product market b. product market and sell in the resource market c. resource market and sell in the money market d. product market and sell in the product market e. resource market and sell in the product market
If the interest rate in the Mexican economy increases, then the most likely outcome would be that, in Mexico, the
a. economy will move to a new point along its existing consumption curve b. consumption curve will shift upward c. consumption curve will shift downward d. investment curve will shift upward e. economy will move to a new point along its existing investment curve
The decision about the forms in which to hold one's wealth is called the ________ decision.
A. Taylor B. Fisher effect C. life-cycle D. portfolio allocation