All other things constant, an increase in the wage rate will:
a. decrease the quantity of labor supplied.
b. increase the quantity of labor supplied.
c. increase the supply of labor

An above full-employment equilibrium is

A) a theoretical possibility but cannot happen in reality. B) the equilibrium in which the economy is in most of the time. C) when real GDP exceeds potential GDP. D) the period of time when prices are falling.

All of the following are deficit items in the balance of payments EXCEPT

A) purchases of foreign assets. B) imports of merchandise. C) foreign tourist expenditures. D) purchases of foreign currency.