A system of accounts that measures the transactions of goods, services, income, and financial assets between domestic households, businesses, and governments and residents of the rest of the world during a specific time period is the
A) capital account.
B) current account.
C) balance of payments.
D) balance of trade.
Answer: C
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If the government provides a subsidy of $1 per hour to employers for hiring workers, ________
A) the equilibrium real wage will increase B) labor demand will decrease C) the equilibrium employment will decrease D) labor supply will increase
Workers expect inflation to rise from 3% to 5% next year. As a result, this should
A) shift the short-run aggregate supply curve to the left. B) move the economy down along a stationary short-run aggregate supply curve. C) shift the short-run aggregate supply curve to the right. D) move the economy up along a stationary short-run aggregate supply curve.
Which of the following is an example of a good with a highly elastic supply curve?
a. luxury goods b. tropical vacations c. pizza d. sports vehicles
Angie's list now provides a rating service for physicians. This type of information can potentially help consumers in which stage of the consumer decision making process?
External search Post purchase evaluation Problem recognition Internal search