A current account deficit is generally a result of imports exceeding exports.
a. true
b. false
Ans: a. true
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The formula (MPL)(MRX), where L is for labor and X is the output, is for
A. the marginal product of labor. B. the marginal revenue from labor. C. total revenue of labor. D. the marginal revenue product of labor.
Behind the Glass-Steagall Act was the feeling that __________ is too risky for commercial banks
A) underwriting corporate securities B) competing to pay high deposit rates C) making business mortgage loans D) interstate branching
The equilibrium effects of a temporary increase in total factor productivity include
A) an increase in the real wage and an increase in the real interest rate. B) an increase in the real wage and a decrease in the real interest rate. C) a decrease in the real wage and an increase in the real interest rate. D) a decrease in the real wage and a decrease in the real interest rate.
When competitive forces in an industry are weak,
a. the absence of competition generally leads to overproduction. b. prices may exceed the amount consumers are willing to pay. c. the operational efficiency of private firms will be enhanced. d. higher prices and less than optimal production may result.