In an open? economy, if the federal government has a budget? deficit, the trade balance is more likely to be
A. a surplus.
B. either a deficit or surplus; it depends on macroeconomic conditions.
C. a deficit.
D.balanced.
Ans: C. a deficit.
Economics
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The evidence cited in the chapter using the examples of the East Asia New Industrializing Countries suggests that as international productivities converge, so do international wage levels
Why do you suppose this happened for the East Asian NICs? In light of your answer, what do you think is likely to happen to the relative wages (relative to those in the United States) of China in the coming decade? Explain your reasoning.
Economics
Total productivity of labor is measured as the total output produced by an additional worker.
Answer the following statement true (T) or false (F)
Economics