Which of the following would be a debit in the U.S. balance of payments?
a. the purchase of air service from a U.S. airline by a Japanese traveler
b. the purchase of a German car by an American
c. a short-term loan to a Japanese manufacturer by a U.S. bank
d. the purchase of U.S. grain by a Japanese firm
B
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Starting from long-run equilibrium, a decrease in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. higher; potential D. lower; higher
Educating girls and women should reduce population growth because better-educated girls and women
a. will take better care of their children b. are more likely to practice contraception c. are more likely to want income from working rather than having additional children d. tend to want to spend more on fewer children rather than less on a greater number of children e. all of the above
The long-run Phillips curve is a vertical line at the natural rate of unemployment
a. True b. False Indicate whether the statement is true or false
Which of the following is an explanation for the existence of frictional unemployment?
a. efficiency wages b. minimum-wage laws c. unions d. job search