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
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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.
Which cost measures the pollution cost to society?
A. Internal cost B. Social cost C. External cost and social cost D. External cost
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.
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.