A country will import a good only if
a. there is excess domestic quantity supplied at the world price
b. domestic quantity supplied is greater than world quantity supplied
c. domestic quantity demanded is less than world quantity demanded
d. domestic quantity demanded is zero at the world price
e. excess quantity demanded is positive at the world price
E
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Which of the following defines the "store of value" function of money?
a. A common measurement of the relative value of different goods and services. b. The ability of money to hold value over time. c. That the materials used to manufacture money are of medium grade or quality, so that people will not hoard money for its commodity value. d. That money is widely accepted in exchange for goods and services.
In the official labor statistics, discouraged workers are:
a. counted as employed. b. counted as unemployed. c. included in the labor force. d. not included in the labor force. e. considered to be seasonally unemployed.
Relative prices formed in a market process
What will be an ideal response?
According to the "Rule of 70," how many years will it take for real GDP per capita to double when the growth rate of real GDP per capita is 5%?
A) less than 1 year B) 5 years C) 14 years D) 35 years