Unemployment occurs even during periods when the economy is growing
Indicate whether the statement is true or false
TRUE
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A summary of a country's economic transactions with foreign residents and governments is called the
A) current account balance. B) capital account balance. C) balance of trade. D) balance of payments.
The dollar shortage in international exchange markets in the early 1950's was related to
a. an outflow of gold from the United States. b. large surpluses in the U.S. balance of trade. c. large deficits in the U.S. balance of trade. d. both an outflow of gold from the United States and large surpluses in the U.S. balance of trade.
What type of legislation is a special-interest legislation with narrow geographical benefits but funded by all taxpayers?
a. populist legislation b. pork-barrel spending c. competing- interest legislation d. traditional public-goods legislation
Refer to the information provided in Figure 20.4 below to answer the question(s) that follow.
Figure 20.4Refer to Figure 20.4. The domestic price of a leather wallet is $20. With free trade the price of a leather wallet is $10 and after a tariff is imposed the price is $15. If the tariff is changed so that it is now ________, tariff revenue in this country will be zero.
A. $1 B. between $1 and $5 C. between $5 and $10 D. $10