U.S. exports of goods and services flow to households and firms in ________, and U.S. financial inflows of capital flow to households and firms in ________
A) the rest of the world; the United States
B) the rest of the world; the rest of the world
C) the United States; the United States
D) the United States; the rest of the world
E) the United States; the rest of the world and the United States
A
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A permanent increase in the real wage rate has a ________ income effect on labor supply than a temporary increase in the real wage, so labor supply is ________ with a permanent wage increase than for a temporary wage increase
A) larger; more B) larger; less C) smaller; more D) smaller; less
Planned investment spending is higher
A) when real interest rate is higher. B) during financial frictions. C) when businesses are optimistic. D) all of the above. E) A and C.
Refer to the figure shown, which represents the production possibilities frontiers for Countries A and B. Considering both country's production possibilities frontiers, we know that would both agree to terms of trade of one truck to:
A. eight cars. B. two cars. C. six cars. D. four cars.
The silly clothes worn by a circus clown are an example of
a. market inefficiency b. capital goods c. labor, if it is used by labor exclusively d. human capital e. entrepreneurship, if the clown becomes more creative wearing the clothes