Assets minus liabilities equals
A) accounting profit.
B) economic profit.
C) net worth.
D) implicit costs.
Answer: C
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If a country signs a trade agreement so that employment in some industries rises and employment in some industries fall, then
a. structual unemployment rises temporarily. b. structural unemployment rises permananently. c. frictional unemployment rises temporarily. d. frictional unemployment rises permanently.
The two most important factors contributing to increased productivity in industrialized countries in the twentieth century were:
A. higher relative prices and technological progress. B. higher relative prices and a larger labor supply. C. technological progress and increases in the labor supply. D. technological progress and increases in the capital stock.