If a nation's current account is -$200 billion and its financial account (excluding its official settlements balance) is $175 billion, how much is its official settlements balance?
A) -$25 billion
B) +$25 billion
C) -$375 billion
D) +$ 375 billion
B
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In perfect competition, as the long run approaches, economic losses will cause
a. the exit of existing firms, shifting the market supply curve to the left b. government regulation c. technological innovation d. inflation e. a favorable shift in tastes and preferences
Entrepreneurs establish businesses in order to:
a. purchase products at greatly reduced prices b. not have to answer to a boss c. take as many vacation days as they can d. make money
According to economists, how does an increase in the inflation rate affect the consumption function?
A. It shifts the function upward. B. It shifts the function downward. C. It causes movement upward along the function. D. It causes movement downward along the function. E. It has no predictable effect on the function.
The aggregate demand curve shows the relationship between the volume of purchases and:
a) The price level. b) Which goods and services people will buy. c) The amount producers supply. d) Real GDP.