If the United States has a $300 billion trade deficit, then there must be:
A. no capital inflows or capital outflows.
B. net capital outflows of $300 billion.
C. net capital inflows of $300 billion.
D. net capital inflows of -$300 billion.
Answer: C
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When we look at a production possibilities curve, the opportunity cost can be understood as
A) The point of maximum production of one good B) The amount of the other good that must be given up for one more unit of production C) The total cost of producing the good D) The price people will pay for the additional amount produced
Which of the following are examples of a firm experiencing a positive technological change?
a. A firm is able to reduce its inputs by 15 percent and still produce the same level of output. b. A seminar attended by the firm's workers makes them more productive. c. A firm adds 5 percent to its workforce and is able to maintain its initial level of output. d. A firm restructures its distribution system and is able to save on its shipping times. e. A firm rearranges its warehouse and finds that it can use fewer workers to maintain its productivity level.
Refer to above figure. With free trade and no tariffs, what is the quantity of Widgets consumed domestically?
What will be an ideal response?
The Lorenz curve is best used to measure the distribution of income
a. True b. False Indicate whether the statement is true or false