The use of abstraction in economics is analogous to the use of a road map providing directions to a location
a. True
b. False
Indicate whether the statement is true or false
True
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If a transaction in the balance of payments of Country A enters the foreign exchange market, then it is fair to say that:
a. Sources of funds in Country A's balance of payments are supplies of Country A's currency. b. Sources of funds in Country A's balance of payments are demands for Country A's currency. c. Uses of funds in Country A's balance of payments are demands for Country A's currency. d. Transactions in Country A's balance of payments have no counterpart in the foreign exchange market.
Trends in educational attainment in the U.S. since 1960 indicate that the percentage of adults:
A. Completing high school has been rising, and so has the percentage who do not go to high school nor complete elementary school B. Completing college has been rising, and so has the percentage completing high school C. Completing college has been constant, but the percentage completing high school has been rising D. Who do not go to high school has been falling, but the percentage who do not complete elementary school has been rising