If the United States has a $300 billion net capital inflow, then there must be a:
A. trade surplus of $300 billion.
B. trade surplus of $600 billion.
C. net capital outflow of $300 billion.
D. trade deficit of $300 billion.
Answer: D
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According to your authors, entrepreneurial innovation is similar to arbitrage because both activities ultimately involve
A) obtaining inputs at relatively high prices and selling the output at lower prices. B) obtaining inputs at relatively low prices and selling the output at higher prices. C) the absence of uncertainty. D) the presence of perfect and complete information.
Since the specification of a poverty standard is an imprecise endeavor, it is a useless exercise
Indicate whether the statement is true or false
A firm's minimum efficient scale occurs where the long-run average total cost curve reaches its minimum
a. True b. False
Which of the following is not an explanation for structural unemployment?
a. efficiency wages b. job search c. minimum-wage laws d. unions