The term "balance of trade" refers to a nation's:
a. goods exports minus imports.
b. current account balance.
c. capital account balance.
d. net balance of all international transactions.
a
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The above table shows the market shares for all the landscaping services in a suburban area. Which of the following mergers would cause the greatest increase in the four-firm concentration ratio?
A) A and B B) D and E C) E and F D) six of the smallest firms
With an increase in government purchases financed by an increase in the marginal tax rate on labor income, the change in labor supply depends on whether the:
a. negative substitution effect is bigger than the positive income effect. b. positive substitution effect is bigger than the negative income effect. c. negative substitution effect is bigger than the negative income effect. d. positive substitution effect is bigger than the positive income effect.