A country's balance of payments accounts records
A) only the goods and services purchases among countries over a period of time.
B) the international trading, borrowing, and lending positions of a country over a period of time.
C) the flow of human and non-human capital among countries over a period of time.
D) only official transactions between governments over a period of time.
B
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If government spending increases, which of the following is most likely to occur?
a. GDP, money demand, the interest rate, and investment spending will all increase. b. GDP, money demand, the interest rate, and investment spending will all decrease. c. GDP, money demand and the interest rate will increase, while investment spending will decrease. d. GDP, money demand and the interest rate will decrease, while investment spending will increase. e. GDP and money demand will increase, but the interest rate will not change.
When an economist points out that you and millions of other people are interdependent, he or she is referring to the fact that we all
a. rely upon the government to provide us with the basic necessities of life. b. rely upon one another for the goods and services we consume. c. have similar tastes and abilities. d. are concerned about one another's well-being.
The opportunity cost of housing =
What will be an ideal response?
According to the textbook, the union wage premium for workers with the same amount of human capital is about ________.
A. 30 percent B. 20 percent C. 40 percent D. 10 percent