A nation's current account balance is equal to its exports less its imports of:
A. Goods and services
B. Goods and services, minus U.S. purchases of assets abroad
C. Goods and services, plus net investment income and net transfers
D. Goods and services, plus foreign purchases of assets in the United States
C. Goods and services, plus net investment income and net transfers
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Harry owns a barber shop and charges $6 per haircut. By hiring one barber at $10 per hour, the shop can provide 24 haircuts per 8-hour day. By hiring a second barber at the same wage rate, the shop can now provide a total of 42 haircuts per day. The MRP of the second barber is
A. 18 haircuts. B. 42 haircuts. C. $126. D. $108.
The wage of a known high-quality worker, wh, is $10,000. The wage for a known low-quality worker, wl, is $4,000. The share of the work force that is of high quality, s, is 0.5
For what value of the cost, c, of a college education that serves only as a signal of a high-quality worker does a pooling equilibrium exist? A) c > $3,000 B) c < $3,000 C) c < $1,000 D) c = $2,500
Market ____ reveal information about the relative availability of products to buyers.
a. quality b. stimuli c. norms d. prices
Suppose the required reserve ratio is 20%. A $40 million cash deposit will, at most, allow an expansion of the money supply to
A. $20 million. B. $80 million. C. $200 million. D. $800 million.