The balance of payments ____
a. b and e
b. is always zero
c. is positive when the nation runs a trade surplus
d. is negative when the nation runs a trade deficit
e. is an itemized account of a nation's foreign economic transactions
a
Economics
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Labor productivity is equal to the quantity of
A) real GDP. B) real GDP consumed by the total population in one hour. C) real GDP produced by one hour of labor. D) workers employed during one hour. E) workers who are gainfully employed.
Economics
Pricing and output determination under an oligopoly is more complicated than pricing and output determinations in other industries. The primary reason for the complication is the:
A. fewness of firms. B. brand loyalty of consumers. C. powerful effect of advertising. D. mutual interdependence of firms.
Economics