In his tests, Leontief used an input-output table to
A) calculate the capital and labor required to produce $1 million of U.S. exports and imports.
B) calculate the labor productivity of American workers relative to foreign workers.
C) calculate the capital productivity of American capital relative to foreign capital.
D) All of the above.
A
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John fishes for a living. Last year, he sold $100,000 of fish. Bait, nets and other fishing supplies cost John $10,000 and he paid $40,000 in salaries to his helpers
Depreciation on his boat and other equipment, as calculated using IRS rules, was $15,000. What was John's profit as would be calculated by an accountant? A) $165,000 B) $100,000 C) $65,000 D) $35,000 E) None of the above answers is correct.
As the dollar appreciates, the foreign price of United States goods ______________, ultimately shifting the United States AD curve ________________
A) rises; rightward B) rises; leftward C) falls; rightward D) falls; leftward