The difference between exports and imports of goods is the
A. balance of trade.
B. balance of paying.
C. balance of payments.
D. balance of accounts.
Answer: A
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?Each economic model can be applied to many different real-world problems.
Answer the following statement true (T) or false (F)
Everything else held constant, in the market for reserves, when the supply for federal funds intersects the reserve demand curve along the horizontal section of the demand curve, lowering the interest rate paid on excess reserves
A) increases the federal funds rate. B) lowers the federal funds rate. C) has no effect on the federal funds rate. D) has an indeterminate effect of the federal funds rate.
A minimum wage law is a:
A. price ceiling. B. price floor. C. customary norm without legal structure or protection. D. quantity restriction.
Lisa's hourly pay increases from $8 to $10 as her performance improves. We can conclude that:
a. her marginal cost of leisure declines. b. her opportunity cost of leisure increases. c. her opportunity cost of work increases. d. her marginal cost of work declines.