An example of an import of a service in the U.S. balance of payments would be when

A) an U.S. resident purchases a Japanese stereo.
B) a Norwegian traveling in the United States rides a trolley car in San Francisco.
C) a U.S. resident buying insurance from a firm in Toronto.
D) a U.S. firm purchases 100 shares of a Dutch firm.


C

Economics

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When the central bank announces the inflation rate that it will achieve over the next one to four years, it is following a strategy known as

A) money targeting. B) inflation targeting. C) a currency board. D) real business cycle targeting.

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Which cost measures the pollution cost to society?

A. Internal cost B. Social cost C. External cost and social cost D. External cost

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For this question, assume that the Fed sets monetary policy according to the Taylor rule. Suppose current U.S. macroeconomic conditions are represented by the following: ? < ??* and u > un. Given this information, we would expect that the Fed will

A) implement a monetary contraction. B) implement a monetary expansion. C) maintain its current stance of monetary policy. D) more information is need to answer this question.

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Setup Corporation buys $100,000 of sand, rock, and cement to produce ready-mix concrete. It sells 10,000 cubic yards of concrete at $30 a cubic yard. The value added by Setup Corporation is:

A. $300,000. B. $100,000. C. $200,000. D. zero dollars.

Economics