In terms of the world as a whole, imports must equal exports because
A. Every good exported by one country becomes an import for another country.
B. The United Nations requires it.
C. Most countries, other than the United States, have a balanced trade situation.
D. It is part of international law.
Answer: A
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Which of the following normative criteria rejects a policy whenever there exists an alternative policy that could unanimously defeat it?
a. Majority rule. b. The efficiency criterion. c. The Pareto criterion. d. The potential Pareto criterion.
Both the nominal rate of interest and the real return on investment increase with the inflation rate
Indicate whether the statement is true or false
Explain how the nominal wage rate is converted into the real wage rate. Explain why this process of conversion changes the nominal wage rate into the real wage rate
What will be an ideal response?
Suppose the demand curve is perfectly inelastic and the supply curve is upward sloping. The price sellers receive after a specific tax is imposed on sellers
A) is less than before the tax. B) is higher than before the tax. C) is unchanged. D) depends on the supply elasticity.