A depreciation of the currency can switch spending away from foreign goods and reduce the effect of rising incomes on the current account
Indicate whether the statement is true or false
TRUE
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A microeconomist would study all of the following issues EXCEPT
A) the impact of a change in consumer income on the sales of corn. B) the impact of a snowstorm on the sales of snow shovels. C) the most efficient means for General Motors to produce an automobile. D) the effect of a change in income taxes on the nation's rate of unemployment.
The official U.S. poverty standard was set in 1963 at $3,000 per year for a family of four.
Answer the following statement true (T) or false (F)
Cooperation in prisoner's dilemma-type games:
A. always benefits the players and the public. B. always benefits the players, but does not always benefit the public. C. doesn't always benefit the players, but always benefits the public. D. doesn't always benefit the players or the public.
To have a rising standard of living, a nation's stock of capital must
a. equal the amount of consumption in the country b. grow faster than the population c. be associated with a low rate of investment and high rate of consumption d. grow slower than the population e. decline to enable the production of essential consumption goods