Which statement is true?
A. The U.S. is both the world's leading creditor nation and the leading debtor nation.
B. The U.S. is neither the world's leading creditor nation nor the world's leading debtor nation.
C. The U.S. is the world's leading creditor nation and not the world's leading debtor nation.
D. The U.S. is the world's leading debtor nation and not the world's leading creditor nation.
D. The U.S. is the world's leading debtor nation and not the world's leading creditor nation.
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The towns of Jekyll and Hyde each have a labor force of 2,000 people. In Jekyll, 500 people were unemployed for the entire year, while the rest of the labor force was employed continuously. In Hyde, every member of the labor force was unemployed for three months and was employed for nine months. The average duration of unemployment spells over the year was ________ months in Jekyll and ________ months in Hyde.
A. 12; 3 B. 3; 9 C. 12; 9 D. 3; 3
The working population of the United States is approximately
A. 160 million. B. 290 million. C. 340 million. D. 1.3 billion.
How does microeconomics differ from macroeconomics?
What will be an ideal response?
A country that has an absolute advantage in producing all goods will ________
A) have a comparative advantage in some goods but not all B) produce all goods at lowest opportunity cost C) have a comparative advantage in all goods D) not gain from specialization and trade