When people invest at home, it is called _____, and when they invest abroad it is called _______.
A. I; NCO
B. I; NX
C. S; I
D. S; NCO
A. I; NCO
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Price tags attached to goods for purchase at a store would be an example of money's role as a
A) medium of exchange. B) store of value. C) unit of account. D) none of the above
A U.S. trade policy that restricts the sale of foreign goods in the U.S. market will
a. reduce the demand for U.S. export goods since foreigners will be less able to buy our goods if they cannot sell to us. b. benefit producers in industries that export goods. c. increase the nation's income since it protects domestic jobs. d. enhance economic efficiency by allocating more resources to the areas of their greatest comparative advantage.
Monopolists are price ______.
a. makers b. takers c. followers d. ignorers
When economists say goods are scarce, they mean:
A. consumers are too poor to afford the goods and services available. B. consumers are unwilling to buy goods unless they have very low prices. C. goods are generally freely available from nature in most countries. D. the desire for goods and services exceeds our ability to produce them with the limited resources available.