The major factor affecting a nation's balance of payments is
A) an increase in its rate of unemployment.
B) its rate of inflation relative to the rate of inflation of its trading partners.
C) a change in the productivity of its labor.
D) its stock market movements.
Answer: B
Economics
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Referring to Figure 19.2, the effect of an increase in U.S. prices is represented by a movement from point
A) a to d. B) d to a. C) c to b. D) b to a.
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For a monopoly market, if the Lerner Index is 2, then
A) the monopoly is maximizing its profit. B) the price elasticity of demand is -2. C) the price elasticity of demand is -0.5. D) None of the above.
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