Exports are goods and services that are produced:
A. in other countries and consumed domestically.
B. domestically and consumed in other countries.
C. and consumed in other countries.
D. and consumers domestically.
B. domestically and consumed in other countries.
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What would be the effect on the labor supply curve of a higher income tax rate?
The single currency project in the EU will be most successful if European labor is relatively
A) immobile. B) immobile and business cycles are not synchronized. C) mobile and business cycles are synchronized. D) mobile and business cycles are not synchronized. E) mobile.
People consistently consider sunk costs when weighing the trade-offs involved in a decision because:
A. they are rational. B. they are utility-maximizers. C. they think at the margin. D. they find it hard to accept their losses.
Looking at their ratio of debt to GDP, which following five countries should be expected to face serious economic trouble in the future?
a. Fredonia: 40 percent b. Syldavia: 70 percent c. Borduria: 120 percent d. Ruritania: 20 percent e. Dystopia: 100 percent.