What was the financial account balance in 2017?
a. $1,537 billion
b. $354 billion
c. -$449 billion
d. -$1,183 billion
b. $354 billion
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In the long run a reduction in the money supply growth rate affects
a. the inflation rate and the natural rate of unemployment. b. the inflation rate but not the natural rate of unemployment. c. neither the inflation rate nor the natural rate of unemployment. d. the natural rate of unemployment, but not the inflation rate.
Economic takeoff:
A. occurs when development becomes self-sustaining. B. will eventually occur in all developing countries. C. typically occurs in the absence of foreign investment. D. has yet to occur in any developing country.
If the quantity demanded changes proportionately the same as price, demand is said to be
A) vertical. B) elastic. C) unit elastic D) inelastic.
Which of the following is true of illegal immigrants?
a. They help improve the quality of goods and services produced in the United States. b. They help increase the wage rate in the U.S. c. They do not affect the equilibrium wage of the U.S. unskilled labor market. d. They help some firms lower operating costs, earn more profit, and produce more. e. They reduce the supply of unskilled labor in the United States.