Initially trade between Australia and the United States is balanced. Then, if a change in the exchange rate increases the U.S. dollar price of Australian goods, ceteris paribus, we would expect
A. a trade deficit in Australia.
B. a trade deficit in the United States.
C. a trade surplus in the United States.
D. a trade deficit in both countries.
Answer: B
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Which statement is true?
A. There is no evidence whatsoever to support the contention that women, blacks, Hispanics, and other minorities are victims of employment discrimination. B. The relatively lower wages earned by women and minorities can be explained entirely by employment discrimination. C. The poverty of women, blacks, and Hispanics can be explained almost entirely by their low earnings. D. None of these statements are true.
In the above figure, what is the magnitude of the marginal rate of substitution (MRS) at point a?
A) 1/2 B) the rate at which the consumer will give up magazines to purchase more CDs while preferring the new combination to the old C) 2 D) The question cannot be answered without more information.
A reduction in government taxes causes:
a. The monetary base to either rise or fall, depending on the state of the economy. b. No change in the monetary base. c. The monetary base to fall. d. The monetary base to rise.
Someone who is without work but is not looking for work is included in the Bureau of Labor Statistics' "unemployed" category
a. True b. False Indicate whether the statement is true or false