Which of the following statements is true?
A) Trade leads to inefficient allocation of resources.
B) Trade discourages workers to specialize in production.
C) International trade creates supply bottlenecks.
D) Trade allows people to choose occupations that suit their talents.
D
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Unemployment caused by changes in technology is called ________ unemployment
A) structural B) frictional C) techno D) cyclical
Assuming the United States sends foreign aid payments to another country. Then, this is shown in the U.S. balance of payments account as a
a. credit in the current account. b. debit in the current account. c. debit in the capital account. d. credit in the capital account. e. credit in the official reserve transactions account.
Which of the following statements is false?
A) Real GDP is the quantity of goods and services valued in base-year prices or base-year dollars. B) "Aggregate demand" and the "quantity demanded of Real GDP" are the same. C) According to the aggregate demand (AD) curve, the quantity demanded of Real GDP and the price level are inversely related. D) Real GDP is denominated in current-year prices. E) b and d
Christopher is an unpaid, stay-at-home father who works as a volunteer at the local Habitat for Humanity chapter. Currently, Christopher is not looking for a paid job. The Bureau of Labor Statistics counts Christopher as
a. unemployed and in the labor force. b. unemployed but not in the labor force. c. in the labor force but not unemployed. d. neither in the labor force nor unemployed.