When net capital outflow is negative, it means that on net the value of domestic assets purchased by foreigners exceeds the value of foreign assets purchased by domestic residents
a. True
b. False
Indicate whether the statement is true or false
True
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Savings and investments in the circular flow model are
a. ignored b. part of the firms' payments c. equal to each other and therefore cancel out d. generated by household earnings e. part of the economy's money flows
The rate of unemployment is the:
(a) Percentage of the population that is out of work; (b) Percentage of the population of "working age" that is out of work; (c) Percentage of the labour force that is out of work; (d) Both (b) and (c) are correct.
The process by which new product or production methods are introduced is called the Industrial Revolution.
Answer the following statement true (T) or false (F)
The more product differentiation in the market, the ________ the firm specific demand curve. The less product differentiation in the market, the ________ the firm specific demand curve.
A. steeper; flatter B. flatter; steeper C. more concave; more convex D. more convex; more concave