In the product market, changes in technology affect the marginal ________ of a unit of output. In the labor market, changes in technology affect the marginal ________ of a unit of labor input.
A. cost; cost
B. revenue product; cost
C. cost; revenue product
D. revenue; revenue
Answer: C
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Spending on durable goods, nondurable goods, and services is included in:
A. investment. B. net exports. C. consumption expenditures. D. government purchases.
When the U.S. current account has a deficit, international payments from the United States ________ U.S. international receipts
To cover the current account deficit, there must be a ________ in the combined capital and financial account and official settlements account. A) equal; surplus B) are less than; deficit C) exceed; surplus D) are less than; surplus E) exceed; deficit
Refer to Table 2-17. What is James's opportunity cost of making a wagon?
A) 2 tricycles B) 1/2 of a tricycle C) 3/4 of a wagon D) 1/2 of a wagon
________ is defined in U.S. law as selling a product in a foreign country at a price that is less than fair value
A) Subsidizing B) Countervailing C) Exporting D) Dumping