Which of the following is true?
a. U.S. imports are considered a credit item in the balance of payment, because the dollars sold to buy the necessary foreign currency add to foreign claims against U.S. buyers.
b. When the U.S. runs a trade deficit in goods and services with the rest of the world, the rest of the world must be running a trade surplus in goods and services with the U.S.
c. When
the U.S. runs a trade deficit in goods, it must run a trade surplus in services.
d. None of the above is true.
b
Economics
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A 2% wage increase for teachers or police officers is:
a. usually offset by higher output per worker. b. leads to increases in municipal budgets. c. indicates that teachers and police have became more selfish. d. leads to more personalized service.
Economics
As price elasticity of supply increases, the supply curve
a. becomes flatter. b. becomes steeper. c. becomes downward sloping. d. shifts to the right.
Economics