A country's balance of payments accounts record
A) the country's net indebtedness to foreigners.
B) its international trading, borrowing, and lending.
C) the flow of human and nonhuman resources between it and its trading partners.
D) only its official transactions with other governments.
B
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Minimum wages are the predominant reason for unemployment in the U.S. economy
a. True b. False Indicate whether the statement is true or false
The labels for the axes of an aggregate supply curve should be:
a. Aggregate demand for the vertical axis and real national output for the horizontal axis b. Real employment for the vertical axis and price level for the horizontal axis c. Real domestic output for the horizontal axis and price level for the vertical axis d. Real domestic output for the vertical axis and price level for the horizontal axis
Which of the following is not seen by economists as an underlying cause of business cycle fluctuations?
A. Unexpected financial bubbles that eventually burst. B. Shocks to the money supply by the nation's central bank. C. Supply shocks caused by major innovations. D. All of these are identified as causes of business cycle changes.
Ball's research showed that the sacrifice ratio
A. varied considerably across countries. B. was about 10 for all countries except the United States, where it was about 2. C. was the same for all countries. D. was nearly zero for most countries.