The assumption of wage and price flexibility lead classical economists to conclude that business cycle fluctuations are short-term in nature

A department store chain in Japan uses yen to purchase 500,000 U.S. dollars from a U.S. bank. It then uses these dollars to buy DVDs from a U.S. filmmaker. As a result of these transactions: A. By how much and in what direction did U.S. net exports change? B. By how much and in which direction did U.S. net capital outflow change?

From 1979 to 2011, which country had the lowest growth rate of GDP per hour of work?

A. Singapore B. United States C. France D. Japan