If an industry experiences economies of scale in production, then entry into the market by other firms is easy

The average number of years of schooling of workers in Argonia has increased. Which of the following is likely to be true if all other variables remain unchanged?

A) The unemployment rate in Argonia is likely to increase. B) The income per worker in Argonia is likely to decrease. C) The efficiency units of labor in Argonia is likely to increase. D) The aggregate price level in Argonia is likely to decrease.

An official settlements account balance of -$5,000 means

A) official reserves of foreign currency increased by $5,000. B) official reserves of foreign currency decreased by $5,000. C) the country is exporting more than it is importing. D) the country is importing more than it is exporting.