When net capital flows are negative,
A) capital inflows are less than capital outflows. B) net foreign investment is negative.
C) capital outflows are less than capital inflows. D) A and B are both correct.
A
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If the United States' production possibility frontier was flatter to the widget axis, whereas Germany's was flatter to the butter axis, we know that
A) the United States has no comparative advantage B) Germany has a comparative advantage in butter. C) the U.S. has a comparative advantage in butter. D) Germany has comparative advantages in both products. E) the U.S. has a comparative disadvantage in widgets.
Which of the following does the labor-leisure budget constraint identify?
a. Only the labor-leisure combinations that are possible b. Only the labor-leisure combinations that may be preferable c. Only the hours of leisure that are possible d. Only the income-leisure combinations that are possible